Employees earning a regular monthly wage are paid once a month, whereas employees on hourly rates are paid every two weeks. If the regular payday falls on a weekend or on some other public holiday when the banks are closed, then wages must be paid on the preceding ordinary weekday.
The employee must be given a statement (pay slip) at the time of wage payment itemising the basic wage, separate bonuses, benefits in kind, overtime compensation, per diem allowances, other compensations and annual holiday pay, together with any tax, social security and pension contributions and trade union membership subscriptions that have been deducted at source.
All outstanding wages and holiday compensation must be paid immediately when the employment ends. The employer is liable for up to six days of waiting time pay if this final settlement is delayed.
Benefits in kind
Benefits in kind are employer-sponsored cash value benefits that have been agreed as part of the employee's remuneration. Such benefits typically include the use of a company car, meal allowances, telephone benefits or job-related housing. They may also take the form of various goods and services. The Tax Administration determines the taxable value of benefits in kind every year. This taxable value is then treated as normal wage income for taxation purposes.