Calculate how your income affects your social security and estimate your insurance contribution.
The YEL earnings have been in force for two years. The unemployment cover has been calculated under the assumption that the person does not have dependent children. An estimated effect of the life expectancy coefficient is included. The person lives in Finland. The calculated insurance cover applies to this insurance only and should be considered approximations. The purchasing power of the pension estimate corresponds to present-day values.
Entrepreneurs are entitled to a daily sickness allowance when unable to work due to illness provided that they have worked as an employee or entrepreneur for at least three months prior to the disability. If the work requirement is not fulfilled, the entrepreneur is entitled to sickness allowance only after 55 consecutive days of disability. Entrepreneurs are entitled to unemployment allowance when becoming unemployed after ending their entrepreneurial activities. Receiving earnings-related unemployment allowance requires membership in an unemployment fund. The YEL insurance contribution can be paid by the entrepreneur or by the company. The contribution is deductible for both. YEL provides security also in the event of disability or the death of a family provider. YEL pension is the amount of old-age pension according to the earned income you entered.
The first thing to do is to take out statutory insurance for the self-employed, i.e. YEL insurance.
Take out an insurance policy here or call us at 010 192 094.
It is also wise to take out legal expenses insurance right from the start. You can supplement your insurance to cover essential matters. If P&C Insurance Company can help you map out your insurance needs.
Ask If P&C for an offer +358 (0) 10 19 15 00.
Your company also requires reliable banking services. Nordea’s e-starter package for entrepreneurs is an easy and convenient way to open an account and access other basic services. Call Nordea’s Corporate Service number at 0200 2121 (Mon–Sun, 24h). You can also discuss your company’s needs at greater length over the phone.
The pension cover of your employee is in your hands. Take out TyEL insurance for him/her with us if
You also need to take out accident insurance for your employees, ask If for an offer +358 (0) 10 19 15 00.
Your pension accrual is based on your earned income under YEL insurance. If you fall ill or if a child is born into your family, the benefits paid by Kela are also determined according to your YEL income. Your entitlement to unemployment benefits depend on the amount of your earned income.
It is important that your YEL income is at the correct level right from the start of your self-employed activities. Important considerations for setting your income level:
Use the Entrepreneur’s Calculator on our website when thinking about your earned income!
Thinking about the correct level of YEL income? Call us at 010 192 083, we can assist you.
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