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Social Insurance in Cyprus
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Social Insurance in Cyprus

 

Contributions

 

Employee

 

Social Insurance

7,8%* (6,8% for 2013)

 

 

Employer

 

Social Insurance

7,8%* (6.8% for 2013)

Social cohesion fund

2,0%

Redundancy fund

1,2%*

Industrial training fund

0,5%*

Holiday fund (if is not exempt)

8,0%*

 

 

 

* Social insurance contributions are restricted to a maximum amount.

The maximum amount that applies for 2014 and 2013 is €54.396 (weekly €1.046/monthly €4.533).

The contributions of self-employed persons are 14,6% (12,6% for 2013) of income. The amount of the contributions is subject to a lower and a maximum limit, depending on the profession or trade of the Self-Employed Person.

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