Serbia

Last Update by Marta, 13 Dec 2024

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Exchange Rate

22 Jan 2025

 

Cost of Living

Indicative value for a working adult in a city: Belgrade

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (RSD)
McDonalds Set Meal 950
Monthly Train and Bus Tickets 2,200
3 Bedrooms Rental (City Center) 161,606
3 Bedrooms Rental (Outskirt) 99,858

Current Inflation Rate

4.3%

Wage

Minimum Wages

  • 40,020 RSD per month or 230 RSD per hour

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (RSD)
Entry-Level
Fresh Graduate
 41.000
Mid-Level
5 Years
 60.000
Experienced & Managerial Level
10 Years
 >70.000
Specialized & Senior-Level
15 Years
 >100.000

Annual Salary Growth

7%

Statutory Contribution

Maximum social security contributions base capped at 5 times the average monthly salary, published by official statistic at the time the salary is paid
In 2024, the base is 40,143 RSD capped at 573,470 RSD

Country Level

Type Employer Rates Employee Rates Notes
Health Insurance 5.15% 5.15% All staff
Pension and Disability Insurance 10% 14% All staff
Contribution base 40,143 - 573,470 RSD per month
Unemployment Insurance - 0.75% All staff

Other Benefit

Other common employment benefits in Serbia include:

  • Transport to work: Up to 5,398 RSD per month
  • Co-Financing Sports Activities: Around 3,700 RSD per month

Income Tax

Residents

  • Tax period: 1st January - 31st December
    Filing Due Date: 30th June the following year

Country Level

Taxable Income Rate
0 – 25,000 0%
Above 25,000 10%

Non-residents

  • Depends on the double taxation agreement between countries. Typically, only income originating in Serbia is taxed at 10%
  • A tax resident is an individual who meets one of following criteria:
    - Residence in Serbia for at least 183 days in a calendar year
    - Have their permanent home, business center and/or vital interests in Serbia

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday - Friday

Overtime

All hours above 40 per week are considered overtime

  • Paid at least 126% of normal salary

Employment Contract

Permanent

Contract Format

Written, in Serbian

Payroll Currency

RSD

Probation

Up to 6 months

Contract Period

No minimum or maximum period

Termination

The contract may be terminated by the employer, the employee or by mutual agreement

  Voluntary Resignation Involuntary Termination Economic Layoff
Notice Period - Probation - 5 days - 5 days - 5 days
Notice Period - Regular - 15 days

- Employement contract may determinate a longer notice period, but not longer then 30 days 		- 8 - 30 days

- The exact notice period should be agreed in the employment contract.		 - 8 - 30 days

- The exact notice period should be agreed in the employment contract.
Severance Pay - - Mandatory in case of dismissals due to redundancy: Minimum 1/3 of the average monthly gross salary for each full year of service - Mandatory in case of dismissals due to redundancy: Minimum 1/3 of the average monthly gross salary for each full year of service

Public Holiday

  • If a public holiday falls on a Sunday, the next working day is a day off

12 days

Country Level

Date Name
01 Jan - 02 Jan New Year's Day
07 Jan Orthodox Christmas Day
15 Feb - 16 Feb Statehood Day of the Republic of Serbia
18 Apr - 21 Apr Orthodox Easter
01 May - 02 May Labor Day
11 Nov Armistice Day

Leave

Leave Type Entitlement Notes
Annual Leave 20 working days All staff after 1 months' continuous service
Sick Leave 30 working days
 All staff
Maternity and Childcare Leave 365 calendar days
Maternity: 28 days before birth. 90 days after 		All expectant mothers used up until the child is 3 months
All mothers - balance of remaining maternity used for childcare

Reference

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