![]() ![]() The table issued by the Department of Social Insurance Services which summarises the amounts of contributions due for each quarter of 2024, based on the minimum weekly insurable earnings of self-employed persons, according to the table referenced in the above immediate section, can be accessed here. The table which summarises the minimum applicable insurable earnings of self-employed persons for 2024 by occupational category, as issued by the Department of Social Insurance Services, can be accessed here.Īmounts of social insurance contributions due for 2024 Minimum insurable earnings by occupational category The contribution rate of self-employed persons for 2024 will increase to 16,6% on insurable earnings. Social insurance contributions applicable to self-employed persons effective 1 st January 2024 Social insurance contribution rates for 2024 Please refer to the below summary table for the applicable contribution rates which are payable by employers and employees for 2024: It is noted that contributions to the Social Cohesion Fund are calculated on actual earnings, not subject to the above caps. The Department of Social Insurance Services lays down yearly the maximum amount of earnings used for the purpose of calculating the contributions to the Social Insurance, Redundancy, Training and Development Funds.īased on an announcement issued on by the Social Insurance Services Department, the maximum amount of insurable earnings for 2024 has been revised upwards from the previous year to €1.209 per week, €5.239 per month and €62.868 per annum. ![]() Social insurance contributions applicable to employees effective 1 st January 2024 In the case of self-employed persons, the contribution rate to the Social Insurance Fund will increase from 15,6% to 16,6% on insurable earnings.Cvent Event Diagramming (formerly Social Tables), is a collaborative meeting and event diagramming platform used by planners and hotel professionals to bring successful events to life. Cvent Diagramming (Formerly Social Tables) is a collaborative venue diagramming solution for planners and hoteliers. In the case of employed persons, the contribution rates to the Social Insurance Fund by both the employer and the employee will increase from 8,3% to 8,8% on insurable earnings. Social Tables (now part of Cvent) 11,542 followers on LinkedIn.In accordance with the Cyprus Social Insurance Law of 59(I)/2010, as amended, the contribution rates to the Social Insurance Fund will increase as follows, effective 1 st January 2024: Social Tables (now part of Cvent) 11,537 followers on LinkedIn. Increase of social insurance fund contribution rates effective 1 st January 2024
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