The minimum wage is set always for the duration of a calendar year. Below we provide you the minimum monthly and hourly wage for each of the listed calendar years:
|CALENDAR YEAR||MIN. MONTHLY WAGE||MIN. HOURLY WAGE|
A wage is a financial settlement or settlement of a financial value (wages in-kind), provided by an employer to an employee for work.
The following items are not considered to be wages in particularly: wage compensation, severance allowances, discharge benefit, travel reimbursement including non-mandatory travel reimbursement, contributions from a social fund, contributions to supplementary pension saving funds, contributions to an employee’s life insurance, revenues from capital holdings (shares) or bonds, a tax bonus, income compensation for an employee’s temporary incapacity for work, supplementary sickness insurance, compensation for work standby, monetary compensation and other payments provided to an employee in relation to employment, other relevant regulations, a collective agreement or an employment agreement which do not have the characteristics of wages. No other settlement provided by an employer to an employee from profit after tax is also considered to be a wage.