What are the salary payment regulations in Finland?
In Finland, salary payments are governed by clear regulations to ensure employees receive their compensation in a timely manner.
1. Payment Frequency
Salaries in Finland are typically paid on a monthly basis. This regular payment cycle helps employees manage their finances effectively and plan for their monthly expenses.
2. Payment Due Dates
Certain circumstances affect when salary payments are considered due:
Preceding Working Day: If an employee’s payday falls on a Sunday, a religious holiday, Independence Day, May 1 (Labor Day), Christmas, Midsummer Eve, or a Saturday that is not a holiday, the payment is deemed to fall due on the preceding working day. This provision ensures that employees receive their salaries without delay due to non-working days.
Payment System Unavailability: If the scheduled payday coincides with a working day when payment systems used by banks for interbank transactions are unavailable—due to decisions made by the European Central Bank or the Bank of Finland—the payment will also be deemed due on the nearest preceding working day. This ensures that employees are not adversely affected by banking system issues.
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