Investor Presentaiton
Holidays
An employee is entitled to holiday pay if the
employment contract lasts for at least 60 con-
secutive days during a calendar year. For em-
ployment relationships shorter than a year,
employees accrue one-twelfth of the annual
holiday for each calendar month of continuous
employment with the same employer.
The minimum holiday period is four weeks per
annum, unless increased by a collective bar-
gaining agreement, employment contract or
internal regulations. Holiday pay is calculated
on the basis of the employee's average month-
ly salary.
Social security and health
insurance
There are two major schemes to which both the
employee and the employer must contribute:
social security and health insurance.
Payments from the social security insurance
system typically include:
- pensions;
- cash benefits such as sick leave,
maternity benefits, social benefits, etc.
A social security treaty is concluded with cer-
tain countries and removes the burden of
paying social security contributions to both.
countries.
Concurrence of a function
as a member of
a corporation's statutory body
and employment
Current legislation does not allow the concur-
rence of the membership in a statutory body
(executive officership) and employment.
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