Change in Social Insurance Fund Contributions_2024 Globalserve Consultants LTD

: 23 янв 2024

In continuation of the announcement circulate on the 2^nd of November 2023, we inform you that as from the 1^st of January 2024 the social insurance contribution tax is increased to 8.8% and 1% for self employed. Also, the maximum amount applicable for social insurance contribution purposes has been increased from €60,060.00 to €62,868.00 per annum, for monthly paid employees from €5,005.00 to €5,239.00 per month and for weekly paid employees from €1,155.00 to €1,209.00 per week.

Social insurance contributions for 2024:

CONTRIBUTIONS	EMPLOYEE	EMPLOYER	SELF-EMPLOYED
Social insurance contributions	8.8% (from 8.3%)	8.8% (from 8.3%)	16.6% (from 15.6%)
Social cohesion fund *Calculated on total emoluments and has no maximum level		2%
Redundancy fund		1.2%
Industrial training fund		0.5%
Holiday fund (if not exempt)		8%

Globalserve Consultants Ltd is a licensed accounting and corporate provider firm offering financial solutions, payroll and social insurance services, for further information you can book an appointment with our specialists at 00357 25 817181 or write an e-mail at Адрес электронной почты защищен от спам-ботов. Для просмотра адреса в вашем браузере должен быть включен Javascript.