Common use of Flex budget Clause in Contracts

Flex budget. In addition to the monthly salary every employee receives a flex budget. The flex budget consists of 8% holiday allowance, 8.33% thirteenth month’s salary and 0.37% (total of 16.7%) of the monthly salary. The 0.37% serves as compensation for the employment benefits such as non-statutory holiday days and Good Friday no longer being a national holiday, which were discontinued in the past. The flex budget is paid to the employee monthly, unless the employee purchase or reserve ‘products’ with the flex budget in Flex Benefits (see article 4.4.1).