Deloitte: CR social insurance one of highest

Czech money gets inspected. Photo: ČNB
+/- FONT:

Rates in Britain, Malta and Cyprus about one-quarter

Prague, Feb 25 (ČTK) — 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.

 

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 50,000 Kč, 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 50,000 Kč 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 Rytířová said.

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

Entrepreneurs in the CzechRepublic 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:

Country

Social security and health
insurance rates paid by
employers to the state

Belgium

35 pct

Bulgaria

17.8 pct - 18.5pct

CzechRepublic

34 pct

China - Being

32.3 pct - 33.8pct

China - Schenzhen

22.7 pct - 24.8 pct

China - Tianjin

33.3 pct - 34.8 pct

Denmark

1,610 euro/year

Estonia

34 pct

Finland

21.16 pct - 26.66 pct

France

45 pct

Hong Kong

5 pct

Croatia

28.2 pct

Ireland

10.75 pct

Italy

29.86 pct

Cyprus

10.50 pct

Lithuania

30.98 pct

Latvia

24.09 pct

Luxembourg

12.43 pct - 14.90 pct

Hungary

28.50 pct

Malaysia

12 pct - 13pct

Malta

10 pct

Germany

19.275 pct

Netherlands

9.63 pct

Norway

16.10 pct

Poland

19.48 pct - 22.67 pct

Portugal

23.75 pct

Austria

21.83 pct

Rumania

27.75 pct - 38.75 pct

Russia

35.3 pct - 43.6 pct

Greece

27.46 pct

Slovakia

35.20 pct

Slovenia

23.19 pct

Spain

29.9 pct

Sweden

31.42 pct

Switzerland

7.55 pct

Ukraine

36.3 pct - 49.7 pct

USA

7.65 pct

Great Britain

13.8 pct


    Source: Deloitte 
 
Log in  \/ 
Register  \/ 

The BIG Stories

Full text: Obama addresses the Ukraine crisis
30 Jul 2014 08:11 - Raymond Johnston

President says Russia has set back decades of progress, expands sanctions on banks

Ukrainian PM resigns, gov’t collapses
24 Jul 2014 16:18 - Raymond Johnston

Move paves the way for new elections to be held

Video: Storms, torrential rains cause damage all o...
22 Jul 2014 09:49 - Czech News Agency Photo: Daniel Korabík.

No one injured, but Bohemia suffers brunt of the storm as trees fall on train tracks and lightning s [ ... ]

Anti-smoking law in the works
21 Jul 2014 11:30 - Czech News Agency Courtesy image

Czech Republic is currently the only EU member state to allow smoking in restaurants

Obama, Putin call for crash investigation
18 Jul 2014 09:04 - Raymond Johnston

Putin places blame on Ukraine for crash of Malaysian flight; White House calls for ceasefire

Search for a word in the Macmillan Dictionaries Online simply by double-clicking on a word on the page.