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* Playroll continues to analyse immediate opportunities and fulfilled roles by recruitment partners, contractors and employers to identify in-demand jobs.
Over the past three decades, Mongolia's transition to a democracy has resulted in a threefold increase in its GDP per capita, accompanied by notable achievements in poverty reduction over the last ten years.
The abundant agricultural, livestock, and mineral resources, coupled with a well-educated population, position Mongolia optimistically for long-term development through the implementation of structural reforms.
The growth of the Mongolian economy is predominantly fueled by the ongoing recovery in mining production and services. This momentum is further supported by the easing of border restrictions, the commencement of the Oyu Tolgoi underground mining phase, resurgence in household consumption, and substantial public investments.
Projections indicate that Mongolia's economy is poised to grow by 5.8% in 2023 and 6.2% in 2024, driven by the robust expansion of the mining sector, the recovery of private consumption, and fiscal expansion.
According to the Mongolian Labour Law, employees should receive a written employment agreement within 10 days of starting their employment. These agreements are generally considered indefinite, except for cases like apprenticeships, probationary work, or temporary employment. Employment contracts are required to include essential details such as:
In Mongolia, the typical maximum duration of a probationary period is three months.
In Mongolia, the standard work week consists of 40 hours, distributed over 8 hours per day, and should not exceed 56 hours per week according to the New Labour Law. Employees are entitled to 2 consecutive rest days, commonly scheduled on Saturday and Sunday.
In Mongolia, overtime, regulated by employment contracts or collective agreements, is compensated at 150% of the regular salary rate and rises to 200% for public holidays. Time off may be provided instead of payment. According to the New Labour Law, the maximum daily overtime should not exceed 4 hours.
The monthly minimum wage in Mongolia is 550,000 MNT.
The law in Mongolia does not include provisions regarding 13th-month salaries.
In Mongolia, the individual tax rate is a flat 10%.
Every elderly individual in Mongolia is entitled to receive a pension. The Mongolian old-age pension system comprises both social insurance and social welfare pension schemes. Social welfare pensions are designed to offer a minimum income security net for those who do not qualify for a social insurance pension.
The tax-related information provided in this guide is intended for general guidance and informational purposes only. Reach out to our dedicated team for insights on remote hiring in Mongolia tailored to your needs.
In Mongolia, contracts can be terminated by either party with or without cause. However, employers are generally expected to provide reasonable cause for termination.
The statutory notice period for both employees and employers is 30 days.
In Mongolia, severance pay is equivalent to one month's wages in cases of termination due to the employee's military duty, business liquidation, or when an employee reaches retirement age.
In Mongolia, employees are entitled to paid holidays during festival holidays, which encompass both memorial holidays and religious holidays of Christian origin. The 9 public holidays in Mongolia are:
The statutory benefits in Mongolia are the following:
Legal and compliance experts are readily available to provide guidance and case-by-case Q&A support.
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