Social Insurance in Cyprus
|Social Insurance||7,8%* (6,8% for 2013)|
|Social Insurance||7,8%* (6.8% for 2013)|
|Social cohesion fund||2,0%|
|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.