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terminated by either party, by means of a written notification, without prior notice ormotivation.6. The prior noticeAs regards the prior notice period, the Romanian legislature establishes the followings:• 15 working days in case of firing an employee• 20 working days in case an employee resigns from an executive position, and 45working days for leading positions7. The contributions at the state’s budgetThe main contributions that have to be paid by the employer are the followings:• Pension insurance: 20,8% for normal work conditions• Unemployment contribution: 0,5%• Health insurance contribution: 5,2%• Contribution for the medical vacation: 0,85%• Wages guarantee fund: 0,25%• Work accidents and professional diseases contribution – different percentcorresponding to the degree of risk afferent to the employer’s object of activity• Sick leave contribution: 0,85%• Tax per profit: 16%The main contributions that have to be paid by the employee are the followings:• Pension insurance: 10,5%• Unemployment contribution: 0,5%• Health insurance contribution: 5,5%• Tax per income: 16%8. The salaryBecause the individual labor contract reflects the agreement of the two parties involved,namely, the employer and the employee, the salary shall be negotiated and established inconsequence. Nonetheless, in order to protect the employee, the legislator has established aminimum level of the wage and also specific provisions according to which the specification of awage smaller than this level is strictly forbidden and sanctioned accordingly.Before the latest modification of the Labor Code, a National Labor Contract was in force andestablished a minimum wage of 600 lei (approximately 143 euro), value to which specific quotaswere applied corresponding to the professional training of the employee and the working hours(the maximum wage was 1200 lei – approximately 285 euro- for the employees that worked for8 hours per day and who had a diploma attesting their superior studies, necessary and legalpremises for achieving that position).15