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Cyprus payroll

  • Updates of Protection of Wages Law

    • November 12, 2023
    • Posted by: Office
    • Category: News, payroll
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    The Protection of Wages Law of 2007 (the “Law”), as amended in 2022, which is in force as of April 16, 2023, covers the following areas: It defines the permissible methods of payment of salaries, and the obligation to issue a certificate of remuneration (payslips) and It enhances transparency and predictability of conditions of employment.

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  • Social Insurance and National Health contributions for 2023

    • May 26, 2023
    • Posted by: admin
    • Category: Accounting & Finance, Taxation
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    Cyprus Social Insurance Contributions 2023

      Social Insurance Contributions for 2023 The Social Insurance Contributions for 2023 are summarized below: Contributions Employee Employer Self-Employed Social Insurance 8,30% 8,30% 14,60% Social Cohesion Fund 2,00% Redundancy Fund 1,20% Industrial Training Fund 0,50% Holiday Fund (if not exempt) 8,00% TOTAL 8.30% 20.00% 1460% The Social Insurance Office lays down yearly the maximum amount

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