Did you know that the decision on what the maximum salary in the country will be is made twice a year? The Ministry of Social Affairs publishes the current amounts on January 1 and July 1.
Currently, the maximum daily wage is 225,57 euros per day. The maximum monthly salary is 4906,15 euros. How is the latter calculated? Multiply the maximum daily wage by 21,75. Please note that daily and monthly salary amounts are before taxes.
Why is it important to know the current maximum wage? It is used to calculate sickness, disability, maternity, and unemployment benefits. If your salary exceeds the maximum, then, for example, unemployment benefits will be calculated on the basis of the amount of 4906.15 euros. If the salary is less than the maximum salary, the benefit will be calculated based on your income. Namely, based on the wages you received the year before you lost your job. The daily wage is multiplied by 21,75 and we get the monthly unemployment benefit (WW maandloon).
By the way, the unemployment benefit is 75% of the monthly salary in the first two months. In the following months, 70% is paid. The maximum duration of payments is three years and two months. Sickness benefit is also 70% of the salary. But the 16-week maternity leave is paid 100%.
Read about the minimum wage from July 1, 2021 here.
Publication Date: 14.09.2021
