The minimum pay is set each January in accordance with the Minimum Wage Act (ZMinP). What does that include? How does the wage change in Slovenia over the years? This article will explore the evolution of the minimum pay in Slovenia. Above all, this can help you with your business plan and recruitment of workers. Do you know anything about taxes in Slovenia? Also, you can check our free salary calculator! If you want to know more, please do not hesitate to call us on +386 40 530 718 (Viber/WhatsApp) for more information!
Minimum pay – what determines it?
What determines the minimum pay? In essence, it is the sum of the amount of minimum costs with an increase of 20 to 40 percent plus the amount of taxes and compulsory social security contributions for the worker. To emphasize, this is without the tax reliefs; and the worker who has no taxable income other than the minimum wage and the statutory minimum wage and the annual leave, which would have an effect on the amount of the general allowance. However, this is not all. Price inflation, wage trends, economic and employment conditions matter too! The Official Gazette of the Republic of Slovenia by the end of January of the current year publishes the changes. It is the ministry of Labor that publishes the information. Do you want to register a company in Slovenia? Just contact us and schedule a meeting with one of our advisors!
What is the minimum pay for 2023?
For this year, the minimum pay is € 1203.36 gross. How do you calculate the minimum pay? On the whole, it does not include allowances, the merit component and performance pay. What does this mean? In short, this means that the minimum pay includes allowances as holiday pay, Sunday work, night work, length of service etc. Is this similar to your country? Maybe you find this more favorable for a business migration? With this in mind, we’d suggest a one-on-one conversation with our business advisors! They will be happy to assist you with everything!
Minimum pay over the years
As the tittle suggests, we will now look at the minimum pay changes in Slovenia over the years. To clarify, Slovenia uses the euro currency since 2007. It is a member of the EU from 2004. So, let’s see the yearly changes.
PERIOD – MINIMUM PAY
- for August 2003 and subsequent months 110 380 Slovenian tolars €460,60
- for the month of December 2003 and subsequent months 111 484 Slovenian tolars €465,21
- August 2004, 117 500 Slovenian tolars €490,32
- August 2005 122 600 Slovenian tolars €511,60
- 1 Aug 2006 to 31 July 2007 €521,83
- 1 Aug 2007 to 29 Feb 2008 €538,53
- From 1 March 2008 to 31 July 2008 €566,53
- 1 Aug 2008 to 31 July 2009 €589,19
- 1 Aug 2009 to 28 Feb 2010 €597,43
- From 1 March 2010 to 31 Dec 2010 €734,15
- 1 Jan 2011 to 31 Dec 2011 €748,10
- 1 Jan 2012 to 31 Dec 2012 €763,06
- From 1 Jan 2013 to 31 Dec2013 €783,66
- 1 Jan 2014 to 31 Dec 2014 €789,15
- 1 Jan 2015 to 31 Dec 2015 €790,73
- From 1 Jan 2016 to 31 Dec 2016 €790,73
- 1 Jan 2017 to 31 Dec 2017 €804,96
- 1 Jan 2018 to 31 Dec 2018 €842,79
- From 1 Jan 2019 to 31 Dec 2019 €886,63
- 1 Jan 2020 to 31 Dec 2020 €940,58
- 1 Jan 2021 to 31 Dec 2021 €1024,24
- From 1 Jan 2022 to 31 Dec 2022 €1074,43
- 1 Jan 2023 to 31 Dec 2023 €1203,36
Basically, we see gradual increase in the minimum pay. Despite crises, Slovenia’s economy grows yearly. In reality, more and more businesses migrate here. Why? In short, because of the favorable conditions Slovenia offers. Under those circumstances, many entrepreneurs hire workers from abroad, or they send workers abroad. So, what are your business plans? Without a doubt, DATA will be here to help you register your company and stay with you after that!
Register your company – choose DATA
Summing up, we hope you find this article helpful. Of course, if you have any additional questions, feel free to call us on +386 40 530 718 (Viber/WhatsApp)! We have rich experience of more than 30 years! What is more, our business, tax, and legal advisors will be glad to assist you in the registration process! With this in mind, do you consider opening an s.p. or an Ltd in Slovenia? Do you know the difference between these two types of companies? In brief, s.p. stands for sole trader, while Ltd is for limited company. So, are you ready for your business adventure? Don’t wait! Last but not least, if you want to follow more on business in Slovenia, please visit our Facebook and LinkedIn pages.