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6.1 Labor Agreement 6.2 Social Security Regulations The labor agreement is the contract whereby one party, the employee undertakes to work for the other party, the employer, against pay, for a certain time employment. Collective labor agreements usually cover a period of two to three years, after which new terms are agreed upon for a similar period of time. The reliability provided by these contracts benefits both the employer and employee. In most cases there is a clause which provides for no strikes or lockouts during the contract period. All labor disputes where parties do not reach an agreement must be subjected to mediation. Parties may request intervention, or the mediator can ex-officio compel parties to accept mediation. The government has the authority to impose a ‘cooling off’ period. AOV/AWW (General insurance for Old Age / Widow and Orphans) The AOV/AWW premium is paid by employee and employer. The AOV/AWW premium amounts to 13.5%. The premium is paid by the employer (9.5%) and by the employee (4%). The aforementioned percentages are to be calculated over the premium income which is maximized at AWG. 65,052 (USD 36,342) and is only due until the employee reaches the age of 60. General Health Insurance (AZV) The AZV premium is paid by the employee and the employer. The AZV premium is 11.5%. The premium is paid by the employer (8.9%) and by the employee (2.6%). The aforementioned percentages are to be calculated over the premium income which is maximized at AWG. 85,000 (USD 47,486). 46 Sickness and Accident Insurance Premium This premium is only paid by the employer. The percentage for sickness insurance is 2.65%. The percentage for accident insurance varies from 0.25% up to 2.5%, depending on the risk involved at the job.