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Life insurance provides not only security for employees against unexpected life events, but also an opportunity to invest disposable income and increase its value. A contribution towards life insurance is a demonstration of care and concern for the employee, expressing the importance of a long-term relationship and its security.
Companies contributing towards their employees’ life insurance can include their contributions in their tax expenses. Life insurance thus becomes an excellent component of a stable employee policy, and in addition, a tax-optimizing element of financial management.
Advantages for employers
• contribution of the employer into the Life Insurance is tax deductible
• from these contributions, the employer does not pay the Health Insurance and Social Security payments for the employee per year up to 24,000.00 CZK
• the Life Insurance improves overall well being and as such positively affects occupational performance of employees
Advantages for employees
• for an employee, the employer's contributions are tax deductible up to 24,000.00 CZK per year
• for the employee, the employer's contributions are tax deductible up to 24,000.00 CZK per year
• the Life Insurance improves overall well being and as such positively affects health of employees
NOTE: the contributions for Pension Plan and Life Insurance are summed up for the purposes of calculating income tax liability and for purposes of Health Insurance and Social Security payments. The tax-deductible amount is the sum of up to 24,000.00 CZK per employee and per calendar year, and the ratio of the contributions into the Pension Plan and Life Insurance has no effect on such.
Arrange a meeting with our pension plan specialists: call the info line at 233 113 435 or fill in the form and we will contact you .
How much will you save? Legislation
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