Slovakia

Last Update by Katie, 28 May 2024

You must log in to be able to download this document

Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Bratislava

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

Living Requirement Indicative Amount (EUR)
McDonalds Set Meal 8
Monthly Train and Bus Tickets 36
3 Bedrooms Rental (City Center) 1,260
3 Bedrooms Rental (Outskirt) 858

Current Inflation Rate

3.8%

Wage

Minimum Wages

  • 700 EUR / month or 4,023 EUR / hour

Median Salary

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

Job Level Monthly Salary (EUR)
Entry-Level
Fresh Graduate
>750
Mid-Level
5 Years
>2.000
Experienced & Managerial Level
10 Years
>4,000
Specialized & Senior-Level
15 Years
>5,000

Annual Salary Growth

9.2%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Health Insurance 10% 4% All staff
Sickness Insurance 1.40% 1.40% All staff
Max. 9,128 EUR contribution base
Disability Insurance 3% 3% All staff
Max. 9,128 EUR contribution base
Pension Insurance 14% 4% All staff
Max. 9,128EUR contribution base
Unemployment Insurance 0.5% 1% All staff
Max. 9,128EUR contribution base
Contributions for financial support during periods of reduced employment 0.5% - All staff
Max. 9,128 EUR contribution base
Accidents Insurance 0.8% - All staff
Max. 9,128 EUR contribution base
Guarantee Insurance 0.25% - All staff
Max. 9,128EUR contribution base
Solidarity Reserve Fund 4.75% - All staff

Other Benefit

Other common employment benefits in Slovakia include:

  • Meal allowance: Mandatory for staff working + 4 hours minimum 5.85 EUR /day
  • Co-financing sports activities: Around 40 EUR / month
  • 13th and 14th salary: Not obligatory, but common practice

Income Tax

Residents

Country Level

Taxable Income Rate
Up to 41,445,46 19%
41,445,46 and above 25%

Non-residents

  • Depends on the double taxation agreement between countries. Typically, only income originating in Slovakia is taxed - 19% or 25%

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday - Friday

Overtime

Maximum 150 hours per year

  • Regular overtime: Paid at 125% of regular salary
  • Work on Saturdays: Paid at 150% of regular salary
  • work on Sundays and public holidays: Paid at 200% of regular salary

Employment Contract

Permanent

Probation

Up to 3 months
Managerial level employees: up to 6 months

Termination

  • Notice period:
    - Minimum: 1 month
    - 1-5 years' service: 2 months
    - 5+ years' service: 3 months
  • Severance: Termination by employer
    - 2-5 years' service: 1 month salary
    - 5-10 years' service: 2 months salary
    - 10-20 years' service: 3 months salary
    - 20+ years' service: 4 months salary
  • Severance: Termination by mutual agreement
    - 0-2 years' service: 1 month salary
    - 2-5 years' service: 2 months salary
    - 5-10 years' service: 3 months salary
    - 10-20 years' service: 4 months salary
    - 20+ years' service:: 5 months salary

Public Holiday

13 days

Country Level

Date Name
01 Jan Republic Day
06 Jan Epiphany
29 Mar Good Friday
01 Apr Easter Monday
01 May Labour Day
08 May Liberation Day
05 Jul St Cyril and St Methodius Day
29 Aug Slovak Uprising Day
01 Sep Constitution Day
15 Sep Lady of Sorrows' Day
01 Nov All Saints' Day
17 Nov Freedom and Democracy Day
24 Dec - 26 Dec Christmas Eve

Leave

Leave Type Entitlement Notes
Annual Leave 20 working days
25 working days
All staff under 33 years old
All staff older than 33
Sick Leave Up to 52 weeks
First 10 days - paid by the employer
11th day onwards paid by social insurance
All staff
Maternity Leave 34 weeks
43 weeks for multiple births paid by social security
Expectant mothers 270 days sickness insurance in the last 2 years
Parental Leave 28 weeks
Up to the child's 3rd birthday paid by social security
All staff with children up to the age of 3- can be extended till child's 6th birthday
Paternity Leave 14 calendar days Expectant fathers with 270 days sickness insurance in the last 2 years before the child's birth

Reference

Ready To Expand in Slovakia?

Have any questions? We’d love to hear from you

Contact Us