Here is our latest news from Fairfax Cyprus
Here is our latest news from Fairfax Cyprus
Fairfax would like to inform all employers about the changes that will be put in effect in 2025.
At the moment, the rate applicable remains at 8.8% deducted by the employee and 8.8% contributed by the employer.
There is no further change at the contribution rates of the other social insurance funds in effect.
You may refer to the chart below for your ease of reference:
SIF Insurable Income Increase
In addition, to the above contribution rate, the maximum level of yearly insurable earnings will change. During 2024 the yearly maximum level of insurable income was €62,868, while from 1st January 2025 the maximum level of insurable income will be increased to €66,612 per annum.
How can we help? Explore the benefits of engaging the Fairfax team to assist you by outsourcing your
payroll function to us.
Contact our team on +357 25558025 or at accounts@fairfaxyeaman.com.
