RUNNING A BUSINESS IN SLOVAKIA RUNNING A BUSINESS IN SLOVAKIA
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to 20 days of paid holiday per year. This entitlement extends to 25 days for employees over 33 years of age. Salary for paid holiday is calculated on hourly base from average quarterly remuneration.
Employment termination / severance payments XXAccording to the Slovak
law, an employee is entitled to receive severance payments if his contract is terminated on economic grounds (i.e. winding up, relocation of the employer and redundancy as a result of improved efficiency) or health grounds. The severance payments depend on the time the employee has spent with the company. Applicable severance payments are summarised below:
Time spent with the company
Amount of mothly salaries
Less than 2 years
-
2 to 5 years
1
5 to 10 years
2
10 to 20 years
3
Over 20 years
4
Source: Labour Code of the Slovak Republic
XXThe employee
is also entitled to a notice period prior to termination of his contract. The notice period applies as follows:
Time spent with the company
Notice period in months
Less than a year
1
1 to 5 years
2
Over 5 years
3
Source: Labour Code of the Slovak Republic
XXThe employer
contract can be terminated at any time. The employment contract can also be terminated immediately if there has been a severe breach of working discipline by the employee.
and the employee may also agree on a combination of severance payments and notice period. If a mutual agreement is reached, the employment
VERONIKA CSÉFALVAY
Manager csefalvay@bdoslovakia.com Direct: +421 2 5710 6632
MY DESTINATION SLOVAKIA
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