Payroll Intelligence

Similarly to the previous years, our work schedule will change this year also. The change of the work schedule is regulated in the NGM Decree 7/2010 (XII.14.) issued by the Minister of national economy as follows:

On 4 July 2011, the Parliament passed Act CV of 2011 on the Amendment of Certain Labour and other related Laws for Legal Harmonisation Purposes. This Newsletter is intended to summarise the key information relating to the amendments of the Labour Code.

On October 25, 2010 the Parliament accepted and on November 2, 2010 the President of the Republic signed Act CI of 2010 on the Amendments Relating to Private Pension Fund Payments and Act C of 2010 on the Freedom of Choice of Private Pension Funds, which were published on the latter date in the Official Gazette of the Republic of Hungary.

The new Act on Simplified Employment approved by Parliament has just been promulgated. The new act contains a number of simplifications for the companies choosing to apply this form of employment as of 1 August 2010.. In this newsletter we report briefly on the modified rules of simplified employment. Edina Pentz, our payroll expert points out that the new regulations not only bring several positive changes to the employers but they also appear to support the decrease of black employment. On the other hand, employers of low staff numbers will undoubtedly continue to struggle when contracting seasonal work due to the administration requirements of registering and de-registering employees and the strict limitation of seasonal staff numbers.