UKG Inc., a leading provider of HR, payroll, and workforce management solutions announces entering into a definitive agreement to acquire Immedis. Read More
- Date format
- Euro (EUR)
- The standard rate is 24%
- Pension Insurance
- Pension Insurance - 16.95% average TyEL contribution
- Health Insurance
- Health Insurance - 1.53%
- Unemployment Insurance
- Unemployment Insurance - 0.05% (1.90% For the part of the salary amount that exceeds € 2,169,000 / year)
- Total Employment Cost
- Total Employment Cost - up to 27.22%
- Pension Insurance
- Pension Insurance - 7.15% to 8.65% if the employee is between the ages 53 and 62
- Health Insurance
- Health Insurance - 0.68% to 1.86% (for salaries over €14,766)
- Unemployment - 1.4%
- Total Employee Cost
- Total Employee Cost - 11.91%
- Minimum Wage
There is not a national minimum wage.
- Payroll Cycle
- 13th Salary
Not required by law.
- Employee Income Tax 1
- Less than 18,600 EUR - 0%
- Employee Income Tax 2
- 18,600 - 27,900 EUR - 6%
- Employee Income Tax 3
- 27,900 - 45,900 EUR - 17.25%
- Employee Income Tax 4
- 45,900 - 80,500 EUR - 21.25%
- Employee Income Tax 5
- More than 80,500 EUR - 31.25%
- General Working Hours
40 hours per week / 8 hours per day.
Overtime must not exceed 138 hours over 4 consecutive months, as well as 250 hours annually. The first 2 hours of employment will be paid at 1.5x the normal wage, and any hours following this will be paid at 2x the normal wage.
- Paid Time Off
The leave runs from April 1st – March 31st the following year. The typical period for vacation to be taken is between May and the end of September. Employees will earn 2 vacation days each month or 2.5 days each month for continuous employment exceeding a year. Any employee who has a minimum of 15 years of employment will be entitled to 3 vacation days each month.
- Public Holidays
- Sick Days
Employees will recieve full pay for 9 sick days once they have been in employment for at least 1 month.
- Maternity Leave
Employees will be entitled to 105 days of maternity leave. The employee is required to notify their employer of this at least 2 months in advance.
- Paternity Leave
Paternity Leave will run for 54 days, and up to 18 days of this will eligible to use at the same time as the mother.
- Parental Leave
Parental Leave cannot be taken at the same time. The parents are entitled to 158 days of parental leave (running until the child turns approximately 9 months old).
- Termination Process
The employer must provide reasonable cause for the termination of an employee. A warning must be given to an employee in the case of poor performance, before dismissal. Employees must provide the employer with written notice in the event of them leaving. Fixed-term contracts may not be terminated by law.
- Notice Period
The notice periods for an employer terminating employment are as follows:
- Less than one-year employment – 14 days’ notice
- Between one and four years of employment – one months’ notice
- Between four and eight years of employment – two months’ notice
- Between eight and twelve years of employment – four months’ notice.
- More than 12 years of employment – six months’ notice
- The notice periods for an employee terminating employment are as follows:
- Between one and five years of employment – 14 days’ notice
- Over five years of employment – 1-month notice
- Severance Pay
No legal requirement regarding severance pay.
- Probation Period
- Employment Visa
Generally, an employment contract is a minimum requirement to begin the process of obtaining a work visa. In addition, one may be required to apply for a residence permit as well, depending on the type of work the applicant plans on conducting. In addition, the salary received must be deemed enough to support the visa holder during their stay in Finland. These Visas are as follows: Residence permit for an employed person (TTOL) and EU Blue Card.