Elo’s Online Service for TyEL and YEL insurance management, Elo’s Online Pension Service, the online service agreement, online insurance applications will be inoperative on Saturday 14 September from 8 a.m. till 3 p.m. We apologize in advance for any possible inconvenience this may cause.

Employer notifications

Earnings that must be reported

As an employer, you report information about your employees and their earnings to Elo for the purpose of calculating your TyEL insurance contributions and the employees’ pensions.

TyEL wages = reportable earnings

  • include monetary wages and fringe benefits
  • are reported in the form of euro and cents
  • are reported in their entirety without deducting the employees’ share of the pension insurance contribution
  • constitute the entire sum that the employees have been paid for their work, including the holiday compensation, and
  • are reported as earnings for the year or salary payment month in which they are paid.

Read more about the reportable earnings for TyEL insurance >

Notification method for contract employers

If you are a new contract employer, you will report the employee-specific earnings information for 2018 to Elo on a monthly basis using the TyEL monthly notification method. The TyEL annual notification method is available for TyEL insurance policies that have been valid already before the year 2018.

As of 1 January 2019, all paid earnings of employees will be reported in connection with each payment and directly to the national Incomes Register within five days from the payment date.

Read more about Incomes Register >

Monthly TyEL notifications

For monthly notifications

  • You report the earnings information of your employees each month immediately after the payment is made. The TyEL contribution is determined on the basis of this information.
  • You do not need to submit a separate annual notification for employees covered by the TyEL insurance policy.
  • You do not need to make a notification or pay any TyEL contribution for any month during which you do not pay any wages or salaries.

Monthly notifications in Elo's Online Service

  • Elo’s Online Service enables you to make your monthly notifications easily using an online form.
  • The service calculates your insurance contribution based on the reported earnings.
  • You can select your payment method: online payment, printable invoice, or request an electronic or paper invoice.
  • You can also submit your notification as a transfer file, whereby the invoice for the insurance contribution will be sent to you by mail or as an eInvoice.

Read more about Elo’s Online Service >

Annual TyEL notifications

For annual notifications:

  • You pay the TyEL insurance contributions for your employees as advance payments. The contributions are based on the reported advance payroll sum. If the payroll sum on which the advance contribution payment is based changes substantially or if you wish to change the amount of the payment instalments, please notify Elo thereof. Changes can also be made in the Online Service or by phone.
  • You submit your TyEL annual notification by the end of January of the following year. The final TyEL contribution will be calculated on the basis of the realised payroll information reported in the annual notification. The employees’ pension is also calculated on the basis of the earnings information, which is why it is essential that this information be accurate and reported on time.

Changes in business activities

How do I proceed

Changes occurring in the business activities of a contract employer, such as changes in ownership or company form, can have an impact on the TyEL insurance. It’s a good idea to contact Elo when any changes occur.

The company no longer has employees or the business activities are ending

Notify Elo of the termination of your TyEL insurance if

  • you no longer have any employees that are insurable under TyEL, or
  • your business activities are ending.

You can submit the notification through Elo’s Online Service or by contacting our Customer Service.

If you use the annual notification method for TyEL insurance, you will also need to report the information concerning the termination of employment and final earnings as related to your employees. The TyEL insurance policy will terminate when we have received all the necessary information.

Changes in ownership

A company’s ownership can change, for example, as the result of the sale of the business or a change in the partners or shareholders.

  • If you, as a private entrepreneur, sell your business, please notify Elo of your decision to terminate your TyEL insurance policy.
  • Notify Elo of any changes concerning the partners in a partnership and limited partnership. These changes will not, however, affect the validity of the TyEL insurance policy.
  • Changes in shareholders of limited liability companies need not be reported, unless the change affects belonging to a group. If a shareholder works within the business, the change in ownership may affect whether the owners fall within the sphere of TyEL or YEL. YEL insurance must be taken if the share of ownership is alone more than 30 per cent or together with family members more than 50 per cent.
Changes in company form

A change in company form refers to, for example, a situation in which

  • you change your private trade name into a limited liability company, a partnership or a limited partnership,
  • a partnership is turned into a limited partnership or a limited liability company,
  • a limited partnership turns into a limited liability company or partnership,

If the business ID changes,

  • notify Elo of the termination of your current TyEL insurance policy
  • take a new TyEL insurance policy for the company carrying on the activities, if that company did not already have a policy.

If the business ID does not change, Elo will amend the company's details under the TyEL insurance policy as of the date of registration.

Notify Elo of the changes using a free-form notification. The notification should include a copy of an extract from the Trade Register or Register of Associations, the certificate of the registration of a trade, or other similar document.
Mergers and demergers

If a limited liability company merges with another company, notify Elo of the termination of the merging company's TyEL insurance policy. Take a new TyEL insurance policy for the receiving company, if that company does not already have a policy.

If a limited liability company demerges into two or more companies, notify Elo of the termination of the TyEL insurance policy of the demerging company. Take new TyEL insurance policies for the companies formed through the demerger.

Elo is here to help and support you

Elo's Online Service is always available for you to use whenever it's most convenient for you. For TyEL and YEL insurance matters, please call us at +358 (0)20 694 730 (weekdays 8 a.m.-4:30 p.m)