Companies in Romania get three more months to change labor contracts

The deadline to submit the updated labor contracts following the social contribution transfer from employers to employees will be extended until March 31, 2018, labor minister Lia Olguta Vasilescu said yesterday. All labor contracts in Romania need to be updated as the social contributions that are currently being paid by companies will be fully transferred to employees starting January 1 next year. The decision is aimed at helping employers, by giving them more time to send the new documents, the minister explained. Romania’s General Wage Record (Revisal) currently records 6.3 million labor contracts for 5.5 million employees. Some employees have several work contracts, Vasilescu said. The Government approved the social contribution transfer from employers to employees at the end of November by Emergency Ordinance. editor@romania-insider.com