Here is our latest news from Fairfax Cyprus
Here is our latest news from Fairfax Cyprus
The key changes introduced in this legislation amendment focus on stricter penalties for undeclared employment and the removal of outdated terminology to streamline legal language. By significantly increasing the fines for initial violations and escalating penalties for repeated offenses, the amendment aims to enhance compliance and accountability among employers. These revisions reflect the government’s commitment to improving labour protections and ensuring the integrity of the social insurance system.
Kindly note, confirmed with immediate effect, the penalty that will be implemented by the Social Insurance Inspector in case of undeclared employment will be 1000 euro (instead of 500 euro that was in place until recently) for each employee for the month that the violation of the law. In addition to that, there will be an extra fine of 500 euro for each calendar month of employment prior to the month the violation was detected.
Moreover, the new law is introducing some hefty penalties in case the employer won’t comply to the regulations and will have another case of undeclared employment in the span of 2 years following the first violation:
Last but not least, we would like to point out the importance of declaring the employment on ERGANI platform before the employment commencement date.
We remain at your service, should you need further clarifications or assistance from our end. You can reach us on +357 2555 8025 or email accounts@fairfaxyeamen.com .
