YEL income is the value of your work input in your own company. YEL income corresponds to such wages that should reasonably be paid if an equally competent employee was hired in your place, or to the remuneration that otherwise can be considered as equivalent to your work input.
YEL income is always determined annually, but it can be changed mid-year, to be effective from the date of the notification onwards.
YEL income is not necessarily the same as paid monetary wages or salary.
YEL income cannot be determined on the basis of profitability nor is it affected by temporary fluctuations in profits.
YEL income for the year 2020:
- Minimum 7,958.99 €
- Possibility to be covered by unemployment security 13,076.00 €
- Maximum 180,750.00 €
If you have entrepreneurial activities in more than one company, all of your entrepreneurial activities are insured under a single YEL policy. Your overall work input is taken into consideration in the YEL income amount.
Your YEL income is automatically increased annually with the wage coefficient, which is confirmed by the Ministry of Social Affairs and Health. The wage coefficient ensures that your income remains consistent with the development of salaries and price levels.