Social insurance in CR one of highest in the world - Deloitte

published:

updated:
25.02.2014 12:52

Prague - Social security insurance, which ranks among secondary staff costs, in the Czech Republic is one the highest in the world, according to a survey conducted among 36 countries by consulting company Deloitte.

foto

Pracovní smlouva, rukavice, kancelářský stůl, podpis, propiska - ilustrační foto. CTK Mikko Stig, Lehtikuva

While social insurance paid from an average monthly wage is more or less also average, it increases with the growing wage. In the category of wages around Kc50,000, the Czech Republic ranks among the most expensive countries along with Slovakia, Estonia and Belgium.

"In Great Britain but also in Malta or Cyprus, for instance, secondary staff costs paid by employers per employee with income around Kc50,000 a month amounts to less than one quarter (in comparison with CR). Unlike most countries, employers in the Czech Republic have to pay markedly higher insurance for employees to the state than employees themselves," Deloitte manager Lucie Rytirova said.

Insurance paid by employers in the Czech Republic amounts to 34 percent.

Entrepreneurs in the Czech Republic pay markedly lower insurance. Present insurance rates for entrepreneurs are relatively high, standing at 13.5 percent for health insurance and 29.2 percent for social security insurance, but the basis for their calculation is only one half of net profit, the study noted.

Employee insurance paid by employers:

CountrySocial security and health insurance rates paid by employers to the state
Belgium35 pct
Bulgaria17.8 pct - 18.5pct
Czech Republic34 pct
China - Being32.3 pct - 33.8pct
China - Schenzhen22.7 pct - 24.8 pct
China - Tianjin33.3 pct - 34.8 pct
Denmark1,610 euro/year
Estonia34 pct
Finland21.16 pct - 26.66 pct
France45 pct
Hong Kong5 pct
Croatia28.2 pct
Ireland10.75 pct
Italy29.86 pct
Cyprus10.50 pct
Lithuania30.98 pct
Latvia24.09 pct
Luxembourg12.43 pct - 14.90 pct
Hungary28.50 pct
Malaysia12 pct - 13pct
Malta10 pct
Germany19.275 pct
Netherlands9.63 pct
Norway16.10 pct
Poland19.48 pct - 22.67 pct
Portugal23.75 pct
Austria21.83 pct
Rumania27.75 pct - 38.75 pct
Russia35.3 pct - 43.6 pct
Greece27.46 pct
Slovakia35.20 pct
Slovenia23.19 pct
Spain29.9 pct
Sweden31.42 pct
Switzerland7.55 pct
Ukraine36.3 pct - 49.7 pct
USA7.65 pct
Great Britain13.8 pct

Source: Deloitte

Written by:
www.ctk.cz

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