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In Hungary, the following must be adhered to under strict local legislation:
Employees in Hungary enjoy a flat rate of income tax, currently set at 15%, with Social Contributions of 18.5%. Employers also enjoy a low Social Contribution of 13%, among the lowest in Europe.
All staff are eligible for a minimum of 20 days’ paid vacation each calendar year. Once staff members reach the age of 25, their entitlement increases by 1 day every three years throughout their twenties. This changes to every 2 years in their thirties and forties.
To dismiss an employee correctly, employers must follow a strict procedure which includes providing appropriate notice and issuing the termination documentation in writing. It is likely that the employee would be due a severance payment – the amounts vary depending on the employee’s age and length of service. Please consult one of our Employment Law Specialists before commencing a contract termination.
PeoplePay Global are here to assist with all your Payroll and HR requirements in Hungary.