Elo calculates TyEL insurance contribution on the basis of the payroll reports and related corrections submitted to the Incomes Register. Elo sends an invoice for the TyEL insurance contributions once per month.
When using the Palkka.fi service to manage your company’s payroll calculations, the service enables you to choose the payment method for your TyEL insurance contributions. You can opt to receive an invoice from Elo or to have the relevant payment information shown within the Palkka.fi service.
For household customers, the payable TyEL insurance contribution is always shown under the ‘Maksut’ (Payments) tab in the Palkka.fi service.
TyEL insurance contributions as of 1 January 2019
The amount of the TyEL insurance contribution will continue to be determined by the percentage confirmed annually by the Ministry of Social Affairs and Health.
- All contribution payments will be up to date and, therefore, there will no longer be a need to calculate a final contribution at the end of the year.
- You will continue to receive Elo’s client bonuses once per year and they will be taken into account in your future contribution payments.
- Any possible impact of the premium category and premium loss discount will be taken into account in the calculation of the contribution.