Social Insurance
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.