Salary Calculator
Slovakia

Native Teams’ payroll calculator for Slovakia will help you estimate the net salary, which is the actual amount the employee takes home after all mandatory deductions are made. 

The calculation starts once you input your gross salary, which represents the total agreed-upon amount before any contributions and taxes are deducted. The calculator will then deduct social security contributions for both the employee and the employer, as well as an income tax rate paid by the employee.

Once all the mandatory deductions are made, the calculator will display the net salary, which is the amount the employee gets in their account for every month of work. 

The total cost of salary in Slovakia is composed of a couple of elements, including income tax and contributions made by both the employer and the employee.

The contributions made by the employers in Slovakia are the following: 11% for health insurance, 0.25% for guarantee insurance, 3% for disability insurance, 1.4% for sickness insurance, 4.75% for reserve insurance, 1% for unemployment insurance, 14% for old-age insurance, and 0.8% for accident insurance.

On the other hand, employees must contribute to their gross salaries for the following benefits: 4% for old-age insurance, 3% for disability insurance, 4% for health insurance, 1% for unemployment insurance, and 1.4% for health funds. 

In addition to this, employees are also charged an income tax rate, which is calculated progressively based on their income level.

Once all of these taxes and statutory deductions are applied, the employee receives the remaining amount for personal use, which represents the net salary. 

Employed individuals in Slovakia must pay tax on their annual income, which is calculated progressively depending on the income level. The income tax rate is calculated as follows:

-Income up to €47,537.98: Tax rate of 19%.
-Income over €47,537.98: Tax rate of 25%.

*Please note that these rates can vary based on legislative changes.

Employment benefits in Slovakia are primarily linked to mandatory contributions made to the social security system. Such benefits include health insurance, sickness insurance, pension insurance, unemployment insurance, disability insurance, and others.

Besides social security benefits, employers are also obligated to provide a meal allowance, paid annual leave, severance pay, and overtime pay. 

Employers in Slovakia might also provide optional or extra employee benefits to increase satisfaction among employees. Such benefits typically include supplementary pension contributions, private health insurance, performance bonuses, and other benefits. 

The terms gross and net salary represent different stages of an employee’s earnings. 

The gross salary is the total amount of compensation agreed upon between the employer and the employee before any deductions are made. The net salary is the amount of money the employee actually receives in their bank account or the amount after deducting income tax and contributions for social security.