On 11 October 2016, the Slovak parliament approved an increase in the maximum monthly basis cap for social security contributions from EUR 4,290 to EUR 6,181. The monthly basis cap applies for both employer and employee contributions, which amount to 34.4% and 13.4% respectively. The cap does not apply to the employer accident insurance contribution (0.8%), which has no limit.
The increased maximum basis cap must be signed into law by the president and published in the Official Gazette befor…