Currency: Swedish Krona (SEK)

Capital: Stockholm

Official language: Swedish

Payroll Cycle: Monthly

Paid Time Off

In Sweden, employees are entitled to 25 days of paid holiday a year. Holiday bonus is paid out in May and equals 0.43% of the averaged wages, plus 12% of any variable bonuses or commissions to the extent that the employee has qualified for such pay over the previous holiday year.

Public Holidays

• New Year’s Day
• Epiphany
• Good Friday
• Easter Monday
• Labor day
• Ascension
• National Day
• Midsummer’s Day
• All Saints Day
• Christmas Day
• St Stephen’s Day

Additional regional holidays may also apply.

Individual Income Tax

The individual income tax depends on many variables, such as marital status, level of income, etc. The National Income Tax average ranges up to 20%

Employer Tax

Approximately, oximat20.7% of employee salary

Employment Contract Details

Employers are required provide to the employe certain information in writing concerning the principal terms of the employment.

Probation Period

The maximum probation period is 6 months.

Minimum Wage Requirements

There are no provisions regarding minimum salary stipulated in law.

Maximum working hours and overtime

Normal working hours are generally 8 hours per day and 40 per week.

Parental Leave

Parents have a shared entitlement of up to 480 days’ leave per child, with 90 days reserved for each parent. The remaining days may be transferred from one to parent to the other. Parental allowance is paid directly by the state. Parents receive 80% of regular salary for 390 days. The other 90 days is paid at a flat rate.

• Maternity leave: starts 7 weeks before the birth and extends up to 7 weeks after the child is born. During maternity leave, the employer is not required to pay the employee any salary.
• Paternity leave: can take 10 days’ paternity leave either before or after the birth of the child.

Sick Leave

The employer sick pay from the employee from day 2 - 14 of each absence period. The sick pay amounts to 80% of the employee's salary.

In case of wrongful termination of employment, the termination could be appealed by the employee and declared invalid by the court. The employer can be required to pay salary and benefits during the court proceeding additional to any non take holidays.Severance pay is not mandatory, however it is advisable to include severance payment in addition to notice for mutually-agreed or negotiated terminations. Severance pay normally corresponds to 6 - 12 months’ salary depending on seniority and tenure.

Notice Period

In Sweden, the notice period is based on the length of the labor relationship:

• Up to 2 years of employment - 1 month’s notice
• 2 - 4 years of employment - 2 months’ notice
• 4 - 6 years of employment - 3 months’ notice
• 6 - 8 years of employment - 4 months’ notice
• 8 - 10 years of employment - 5 months’ notice
• 10+ years of employment - 6 months’ notice