Employee Training Program (LAEK 0.45%), for the year 2010

All the training courses we provide, ie:

• end-user applications,
• technical, and
• business skills courses,

can be incorporated in the OAED vocational training subsidy program (LAEK 0.45%).

i-learn can undertake to prepare and submit the training program file to OAED, free of charge

What is the 0.45% employer contribution?

The 0.45% employer contribution is paid towards the Employment and Vocational Training Account (E.V.T.A.). This compulsory contribution is paid by all employers, including the government, public entities and local authorities, for insured persons falling under at least one of OAED’s insurance categories; it is collected together with IKA contributions and calculated on the salaries which IKA contributions are calculated.

Training program subsidy entitlements:

The sum each enterprise is eligible to receive for vocational training programs to be implemented in 2010 is as follows:

• 100% of the employer's contribution amount (0.45%) paid by the company in 2010, when training costs are greater or equal to that amount.
• 100% of training costs if the company incurs training costs which are lower than the employer’s contribution (0.45%) in 2010.
• Businesses that haven’t implemented any training programs or have not exhausted the employer's contribution (0.45%) in 2008, can carry forward the proportionate amount and use it in 2010.

Calculation method:

The 0.45% allowance is calculated on the total annual payroll and companies can spend it on training during the current year. More specifically, the gross salaries total of the company’s employees - on which the company pays employer contribution to IKA for the entire year (14 months) - is calculated and multiplied by 0.45%. The resulting amount is what the company is entitled to use for training programs during the current year and which is reimbursed by OAED (Manpower Employment Organization). For 2010, OAED will be approving expenditure of unallocated funds related to 2009 employer contributions and to current year employer contributions.

Example of calculating the amount of 0.45% OAED-LAEK

Assuming that a company has 50 employees, each of which has a gross salary of € 1200, the subsidy amount is derived as follows:
(50 employees x 14 x 1200 gross salary x 0.45) / 100 = 3,780.00 €

More Info:
Mrs. Mary Mourelatou, i-learn’s contact person for OAED programs, on +30 211 5001620
or visit the site of OAED http://laek.oaed.gr/