The Slovak parliament approved an amendment to Act No. 461/2003 Coll. on Social Insurance as amended (“Social Insurance Act”) on 11 October 2016, which introduces several important changes.
The primary change effective 1 January 2017 is an increase in the amount of the assessment base from 5-times to 7-times the average monthly wages, from 4,290 EUR to 6,181 EUR. This increase involves the maximum assessment base for trade license holders and other sole proprietors. A maximum assessment base of 6,181 EUR will also be applied for employees and employers effective 1 January 2017. The Social Insurance Act ultimately does not directly define the maximum level of statutory contributions to Social Insurance to be paid by employers, employees, trade license holders and other sole proprietors.
The amendment of the Act stipulates the maximum daily assessment base for calculating salary compensation for the employee benefits for temporary incapacity and sickness leave (sickness benefits, care benefits, equalisation benefits and maternity). A change effective 1 January 2017 is an increase in this maximum limit from 1.5-times to 2-times the general assessment base for 2015 (10,596 EUR).
