From January 1, 2025, a new minimum wage will enter into force in Slovakia. We present an overview of the most important changes that will affect both employees and employers.
Basic data on the minimum wage
• The minimum monthly wage increases from €750 to €816. This increase represents an improvement of 8.8%.
• The minimum hourly wage increases from €4.31 to €4.69.
Minimum wage requirements according to the degree of difficulty of the work
According to the Labor Code, the minimum wage is graduated depending on the difficulty of the work performed. The following are the numerical values as of January 1, 2025:
• For the first degree of difficulty, the minimum monthly salary is €816 (coefficient 1,0).
• For the second degree of difficulty, the minimum monthly salary is €932 (coefficient 1,2).
• For the third degree of difficulty, the minimum monthly salary is €1.048 (coefficient 1,4).
• For the fourth degree of difficulty, the minimum monthly salary is €1.164 (coefficient 1,6).
• For the fifth degree of difficulty, the minimum monthly salary is €1.280 (coefficient 1,8).
• For the sixth degree of difficulty, the minimum monthly salary is €1.396 (coefficient 2.0).
Impact on the employee's net salary
With a minimum wage of 816 EUR, the net salary of the employee will be 572.39 EUR, if no bonuses or the non-taxable part of the tax base are applied. With the application of the non-taxable part of the tax base (€479.48), the net salary increases to 663.50 EUR.
Example: The deductible burden at the 2025 minimum wage
When calculating the deductible tax burden with the application of the non-taxable part of the tax base, we assume that the employee applies the basic non-taxable part of 479.48 EUR per month (value valid for 2025).
Employee
- Social insurance:
- Old-age insurance (4%): 32.64 EUR
- Disability insurance (3%): 24.48 EUR
- Sickness insurance (1.4%): 11.42 EUR
- Unemployment insurance (1%): 8.16 EUR
- Health insurance (4%): 32.64 EUR
- Total Employee Contributions:109.34 EUR
- Income tax(after application of the non-taxable part): 43.16 EUR
- Net salary: 816 EUR - 109.34 EUR — 43.16 EUR = 663.50 EUR
Employer
- Social insurance:
- Old-age insurance (14%): 114.24 EUR
- Disability insurance (3%): 24.48 EUR
- Sickness insurance (1.4%): 11.42 EUR
- Unemployment insurance (1%): 8.16 EUR
- Guarantee insurance (0.25%): 2.04 EUR
- Accident insurance (0.8%): 6.52 EUR
- Solidarity Reserve Fund (4,75%): 38.76 EUR
- Health insurance(11%): 89.76 EUR
- Total employer contributions: 295.38 EUR
- Total cost of the employer: 816 EUR + 295.38 EUR = 1 111.38 EUR
Impact on labor surcharges
The increased minimum wage will also affect the amount of allowances for work in special conditions, since these surcharges are calculated as a percentage of the hourly minimum wage:
• Surcharge for night work: 40% of the minimum hourly wage = 1,88 €/hour
• Surcharge for work on Saturdays: 50% of the minimum hourly wage = 2,35 €/hour
• Surcharge for Sunday work: 100% of the minimum hourly wage = 4,69€/hour
• Holiday work surcharge: 100% of the employee's average hourly wage.
Changes to the minimum wage from 2025 will have positive impacts on employee earnings, but increased costs for employers may affect the labour market and employment decision-making. It is important that both employers and employees are prepared for these changes and able to adapt to them.
If you have any questions or need help with calculations, please feel free to contact us.
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