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A & C CHRISTOFI LTD > Social Insurance

Social Insurance

Social Insurance Contributions (SICs) are payable by the employer, employees and self-employed persons based on their insurance earnings. The rates for the SICs by category are listed below.

Social Insurance Contributions 
Fund Employer Employee Self-employed (under certain conditions)
 Social Insurance  8,3%  8,3%  15,6%
National Health System 1,85% 1,70% 2,55%
Redundancy fund**  1,2%  –  –
industrial Training funds** 0,5%  –  –
Social cohesion fund* 2,0%  –  –
Holiday fund (if not exempt)** 8,0%
Total  21,85 8,3 15,6

 

*Social cohesion fund is calculated on total emoluments and has no maximum level.

**Restricted to the maximum level of emoluments as with the social insurance contributions

The social insurance office lays down yearly the maximum amount of earning used for the purpose of calculating the contributions to the Social Insurance, Redundancy and Industrial Training Funds.

The maximum amount of insurable earning has remained unchanged from the previous year at €4.553 per month and €54.396 per annum.