Mongolia or Mongol Nation is a country in South Asia that shares boundaries with China and Russia. The country holds a population of 3.3 million; it is the world’s most scarcely populated sovereign nation. While Agriculture has been the primary source of income for most Mongolians, industries such as coal, copper, tin, etc., have been emerging.
Major economic hubs:
Ulaanbaatar, Erdenet, Darkhan
Skills in demand:
Manufacturing, Construction, Mining
Local Universities
The top local universities in Mongolia are as follows:
National University of Mongolia
RANKING
Local: 1
World: 3586
Mongolian University of Science and Technology
RANKING
Local: 2
World: 4886
Mongolian National University of Medical Sciences
RANKING
Local: 3
World: 8172
University of Finance and Economics
RANKING
Local: 4
World: 8256
Mongolian University of Life Sciences
RANKING
Local: 5
World: 8586
Salary Data
Below listed are the average salaries in Mongolia:
In order to onboard an individual, the employer must know about the labor laws, statutory benefits, leaves, and allowances. Below listed are the key points an employer must keep in mind while seeking employees in Mongolia.
Employee Contract:
The employer must draft the employment contract in the local language, Mongolian. The employer must mention all the necessities along with the duties and responsibilities of the individual. The contract must mention leaves and bonuses provided to the employee.
Probation Period
The probationary period for employees in Mongolia is up to three months.
Public and Provincial Holidays
Date
Name
Type
1 Jan
New Year
Public Holiday
10 Feb
Tsagaan Sar
Public Holiday
11 Feb
Tsagaan Sar Holiday
Public Holiday
12 Feb
Tsagaan Sar Holiday
Public Holiday
8 Mar
International Women’s Day
Public Holiday
23 May
Great Buddha Day
Public Holiday
1 Jun
Children’s Day
Public Holiday
11 Jul
Naadam Holiday (National Day)
Public Holiday
12 Jul
Naadam Holiday (National Day)
Public Holiday
13 Jul
Naadam Holiday (National Day)
Public Holiday
14 Jul
Naadam Holiday (National Day)
Public Holiday
15 Jul
Naadam Holiday (National Day)
Public Holiday
16 Nov
Genghis Khan Day
Public Holiday
26 Nov
Republic’s Day
Public Holiday
29 Dec
Independence Day
Public Holiday
Employee Leaves
Type of Leave
Time Period
Mandatory
Annual Leave
15 days of leaves per annum.
Yes
Sick Leave
As per requirement
Yes
Maternity Leave
120 days
Yes
Paternity Leave
10 working days
Yes
Payroll
Payroll Cycle
The payroll cycle in Mongolia is monthly.
Minimum Wage
The minimum wage in Mongolia is MNT 550,000.00 per month.
Overtime Pay
The overtime pay is generally 1.5 times the normal pay.
Bonus
13th Month Pay:
There is no statutory law for 13th Month pay in Mongolia.
All employees are charged at a flat rate of 10%, irrespective of their income. Employees are given a tax credit of MNT 84,000 per year. Flat 20% tax rate for the non-resident individual irrespective of the income.
Employees are entitled to a dismissal compensation of an amount roughly equal to the employees’ average compensation for one month.
Visa and Immigration
The visa process is initiated by the Mongolian employer and approved by the Mongolia Immigration agency. The individual can only apply if there is a employment contract from the employer mentioning all the details of the work and services.
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