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Sweden

All countries

Country Details

Currency

Swedish Krona (SEK)

Official language

Swedish

Capital

Stockholm

Is English spoken?

No

Time Zone

GMT +1:00

Salary payment frequency

Monthly

General Overview & Economic Facts

Information

The main exports from Sweden are chemicals, machinery and transport equipment, rubber products, food, clothing and textiles
10.08% of the population is between the ages of 15 and 24 years, with 39.01% of the population being between the ages of 25 and 54. Sweden has a fairly youthful population, making it a favourable country to employ young, energetic employees

Population size

1,01,37,371

GDP

$599B

Inflation level

1.90%

Average earning + minimum wage

Average earning : SEK 481, 200
min wage : There is no statutory minimum wage

Overview of the labour law

The Swedish labour law framework is based on civil rules that govern most aspects of an employment relationship
Swedish employment law is regulated by statutes and case law, as well as by collective bargaining agreements
These collective bargaining agreements are of great significance, and they often contain regulations which deviate from statutory provisions in order for them to be applicable to the business sector to which they apply. Regulations regarding employment protection are found in the Employment Protection Act
Disputes are finally settled by the Swedish Labour Court

Employment Details

Number of Public Holidays

13

Working Hours

Maximum of 40 hours per weekMinimum of 30-minute meal interval after 5 hours of workTypical working hours start at 09h00 and end between 17h00, Monday to Friday

Benefits
  • Health Insurance
  • Vision Insurance
  • Dental Insurance
  • Pension or 401(K)
  • Mental Health Support
  • Life and Disability Insurance
Overtime

Maximum of 50 hours per month

Notice Period

Employed between 0 and 2 years- 1 month notice Employed between 2 and 4 years- 2 months notice Employed between 4 and 6 years- 3 months notice Employed between 6 and 8 years- 4 months notice Employed between 8 and 10 years- 5 months notice Employed for 10 or more years- 6 months notice

Probation Period

No statutory probation period Employees can expect a probation period of 6 months

Severance Pay

No statutory severance pay

Employee Income tax

Income Tax is Pay As You Earn. Income bracket per annum

National Income Tax:

0.00 - 523,200.00 0.00%

523,201.00 or more 20.00%

Municipal Income Tax:

0 - 523,200.00 ± 32.00%

523,201.00 or more ± 32.00%

Employer Social cost
Employee Social cost

Benefit packages

Health Insurance
Vision Insurance
Dental Insurance
Pension or 401(K)
Mental Health Support
Life and Disability Insurance

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