A vast majority of both small and large businesses encounter serious problems when it comes to effective administration of payroll services. Payroll together with payroll taxes are vital aspects of any business as they greatly affect income flow. You wouldn’t want to create a conflict with your employees, when you compromise on the promptness and accurate payment of their dues. Pertinently, any slip-up to adequate management of the payroll service can create some eligible doubt on …
Sick Pay is specifically defined in the Israeli labor laws and as such is binding to all employers.
Employers can pay more than the law specifies, but may not decrease from these bare minimum requirements.read more details at http://www.your-financial-advisor.com/everything-social-security-payment-co-ordination/
An employee is eligible to accumulate a credit of 1.5 days for each month worked, or a total of 18 days per year, but no more than 90 days per year.
The criteria for sick pay
What is Social Security Payment Co-ordination ?
This is called Teum Dmei Bituach Leumi in Hebrew. There are two stages for calculating Social Security and Mandatory Health tax that are automatically deducted from employees’ gross pay. The first stage or reduced rate is 0.4% for Social Security and 3.1% for Health Tax up to a ceiling of 4,809 shekels (Jan 2010)read more information from our latest blog post.
Any income over this amount, the deductions …