The Republic of Finland

Currency
Euro (EUR)
Payroll Frequency
Monthly
Employer Taxes
18.53% to 20.38%

About 

Finland

Finland is a Nordic, Northern European country with land borders with Sweden, Russia, and Norway. Finland has a highly developed economy and scores highly on many metrics related to quality of life, being rated the happiest country in the world from 2018 to 2021.

Overview

Population
5,536,146
Language
Finnish
Capital
Helsinki
Currency
Euro (EUR)
Country code
+358
Min wage
No statutory minimum wages
Working hours
8 hours per day
Weekdays
Monday to Friday
Work hours per week
40 hours per week

Payroll

Cycle

Monthly

Avg employer tax

18.53% to 20.38%

Taxation

Tax breakdown - Employer
  • Pension insurance: 16.95% average TyEL contribution
  • Health insurance: 1.53%
  • Unemployment insurance: 0.05% (1.90% For the part of the salary amount that exceeds 2,169,000 EUR per year)
  • Accident insurance premium: based on salary and job risk
  • Group life insurance premium: depends on the collective labor agreement and varies by industry and company
VAT

24%

Holidays / PTO

Public holidays
  • 1 Jan: New Year's Day
  • 6 Jan: Epiphany
  • 15 Apr: Good Friday
  • 17 Apr: Easter Sunday
  • 18 Apr: Easter Monday
  • 1 May: May Day
  • 26 May: Ascension Day
  • 5 Jun: Whit Sunday
  • 24 Jun: Midsummer's Eve
  • 25 Jun: Midsummer Day
  • 5 Nov: All Saints' Day
  • 6 Dec: Independence Day
  • 24 Dec: Christmas Eve
  • 25 Dec: Christmas Day
  • 26 Dec: 2nd Day of Christmas
Sick days

Employees with more than one months' service are entitled to full sick pay from their employer for the first ten days. Beyond that period, eligible employees can receive 50% of their salary paid for by social security.

Maternity leave

Maternity leave is only paid if that is stipulated in the employment contract or collective agreement. Maternity leave entitlement is 105 days, no week is allowed for two weeks on either side of the due date/birth.

Paternity leave

Paternity leave is 54 days which must be taken in the first two years of the child's life.

Termination

Termination Process

Termination processes vary depending on the type of contract, reason for termination, the employment agreement, and any collective agreements in place.

Notice Period

Notice periods generally depend on the reason for termination and length of service, if the employer terminates the contract the periods are:

  • Up to one year: 14 days’ notice
  • One to four years: one months’ notice
  • Four to eight years: two months’ notice
  • Eight to 12 years: four months’ notice
  • Over 12 years: six months’ notice
  • If the employee ends the contract they must give 14 days' notice if they have been employed for up to five years or one month if longer than that.
Severance Pay

Finland does not have statutory severance pay.

Probation Period

The maximum probationary period in Finland is six months.

Tax Calculation

*
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FI
*
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Employer cost
Total monthly cost of employment
GBP 9,633
Gross monthly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net monthly salary
GBP 5,137
Gross monthly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
Employer cost
Total yearly cost of employment
GBP 9,633
Gross yearly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net yearly salary
GBP 5,137
Gross yearly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
Request a detailed quotation

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The Republic of Finland

Currency
Euro (EUR)
Payroll Frequency
Monthly
Employer Taxes
18.53% to 20.38%

About 

Finland

Finland is a Nordic, Northern European country with land borders with Sweden, Russia, and Norway. Finland has a highly developed economy and scores highly on many metrics related to quality of life, being rated the happiest country in the world from 2018 to 2021.

Overview

Population
5,536,146
Language
Finnish
Capital
Helsinki
Currency
Euro (EUR)
Country code
+358
Min wage
No statutory minimum wages
Working hours
8 hours per day
Weekdays
Monday to Friday
Work hours per week
40 hours per week

Payroll

Cycle

Monthly

Avg employer tax

18.53% to 20.38%

Taxation

Tax breakdown - Employer
  • Pension insurance: 16.95% average TyEL contribution
  • Health insurance: 1.53%
  • Unemployment insurance: 0.05% (1.90% For the part of the salary amount that exceeds 2,169,000 EUR per year)
  • Accident insurance premium: based on salary and job risk
  • Group life insurance premium: depends on the collective labor agreement and varies by industry and company
VAT

24%

Holidays / PTO

Public holidays
  • 1 Jan: New Year's Day
  • 6 Jan: Epiphany
  • 15 Apr: Good Friday
  • 17 Apr: Easter Sunday
  • 18 Apr: Easter Monday
  • 1 May: May Day
  • 26 May: Ascension Day
  • 5 Jun: Whit Sunday
  • 24 Jun: Midsummer's Eve
  • 25 Jun: Midsummer Day
  • 5 Nov: All Saints' Day
  • 6 Dec: Independence Day
  • 24 Dec: Christmas Eve
  • 25 Dec: Christmas Day
  • 26 Dec: 2nd Day of Christmas
Sick days

Employees with more than one months' service are entitled to full sick pay from their employer for the first ten days. Beyond that period, eligible employees can receive 50% of their salary paid for by social security.

Maternity leave

Maternity leave is only paid if that is stipulated in the employment contract or collective agreement. Maternity leave entitlement is 105 days, no week is allowed for two weeks on either side of the due date/birth.

Paternity leave

Paternity leave is 54 days which must be taken in the first two years of the child's life.

Termination

Termination Process

Termination processes vary depending on the type of contract, reason for termination, the employment agreement, and any collective agreements in place.

Notice Period

Notice periods generally depend on the reason for termination and length of service, if the employer terminates the contract the periods are:

  • Up to one year: 14 days’ notice
  • One to four years: one months’ notice
  • Four to eight years: two months’ notice
  • Eight to 12 years: four months’ notice
  • Over 12 years: six months’ notice
  • If the employee ends the contract they must give 14 days' notice if they have been employed for up to five years or one month if longer than that.
Severance Pay

Finland does not have statutory severance pay.

Probation Period

The maximum probationary period in Finland is six months.

Tax Calculation

*
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
FI
*
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Employer cost
Total monthly cost of employment
GBP 9,633
Gross monthly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net monthly salary
GBP 5,137
Gross monthly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
Employer cost
Total yearly cost of employment
GBP 9,633
Gross yearly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net yearly salary
GBP 5,137
Gross yearly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
Request a detailed quotation