Serbia

Last Update by Katie, 11 Jun 2024

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Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Belgrade

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (RSD)
McDonalds Set Meal 950
Monthly Train and Bus Tickets 2,200
3 Bedrooms Rental (City Center) 161,606
3 Bedrooms Rental (Outskirt) 99,858

Current Inflation Rate

3.7%

Wage

Minimum Wages

  • 40,020 RSD per month or 230 RSD per hour

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (RSD)
Entry-Level
Fresh Graduate
41.000
Mid-Level
5 Years
60.000
Experienced & Managerial Level
10 Years
>70.000
Specialized & Senior-Level
15 Years
>100.000

Annual Salary Growth

7%

Statutory Contribution

Maximum social security contributions base capped at 5 times the average monthly salary, published by official statistic at the time the salary is paid
In 2024, the base is 40,143 RSD capped at 573,470 RSD

Country Level

Type Employer Rates Employee Rates Notes
Health Insurance 5.15% 5.15% All staff
Pension and Disability Insurance 10%
Contribution base 40,143 - 573,470 RSD per month
14% All staff
Unemployment Insurance - 0.75% All staff

Other Benefit

Other common employment benefits in Serbia include:

  • Transport to work: Up to 5,398 RSD per month
  • Co-Financing Sports Activities: Around 3,700 RSD per month

Income Tax

Residents

  • Tax period: 1st January - 31st December
    Filing Due Date: 30th June the following year

Country Level

Taxable Income Rate
0 – 21,712 0%
Above 21,712 10%

Non-residents

  • Depends on the double taxation agreement between countries. Typically, only income originating in Serbia is taxed at 10%

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday - Friday

Overtime

All hours above 40 per week are considered overtime

  • Paid at 126% of normal salary

Employment Contract

Permanent

Contract Format

Written

Probation

Maximum 6 months

Termination

  • Notice during probation for employers and staff:
    - 5 days
  • Notice after probation:
    - By staff: 15-30 days depending on the contract
    - By employer with justified reason related to work and behaviour: 8 -30 days, depending on the length of insurance
  • Severance:
    - Mandatory only in case of dismissals due to redundancy.
    - The amount cannot be lower than the sum of 1/3 of the average gross salary for each full year of service

Public Holiday

12 days

Country Level

Date Name
01 Jan - 02 Jan New Year's Day
07 Jan Orthodox Christmas Day
15 Feb - 16 Feb Statehood Day
01 May - 02 May Labor Day
03 May Orthodox Good Friday
04 May Orthodox Holy Saturday
05 May - 06 May Orthodox Easter
11 Nov Armistice Day

Leave

Leave Type Entitlement Notes
Annual Leave 20 working days All staff after 1 months' continuous service
Sick Leave 30 working days
All staff
Maternity/ Childcare Leave 365 calendar days
28 days before birth. 90 days after
All expectant mothers used up until the child is 3 months
All mothers - balance of remaining maternity used for childcare
Paternity 7 working days per year All expectant fathers to care for the child after birth
Bereavement Leave 5 working days All staff with death of a family member
Voluntary Blood Donation Leave 2 working days All staff giving blood

Reference

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