ADVERTISEMENT

Gov't decides on conditions for wage compensation subsidies

Food

The government has taken a decision on conditions for some HUF 21 billion in subsidies for wage compensation, state secretary for employment policy Sándor Czomba said at a press conference on Wednesday.

The earlier announced subsidies are intended to help employers fulfill a government mandate to raise the wages of low earners who would otherwise take home less because of recently introduced tax changes. The subsidies support a 5% increase in the wages of such earners.

In order to be eligible for the subsidies, employers must pay wage compensation to all workers affected, Czomba said. They must also maintain headcount at or above last year's levels, and they may not make more than one-fifth of full-time employees part-timers, he added.

Average gross wages of staff must not have exceeded HUF 215,000 per month in 2011, he said, citing another condition for eligibility.

The subsidies are expected to become available by the time wages for June are paid out, Czomba said. Legislation on the subsidies are expected to be approved by Parliament in March, he added.

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.