The earnings cap for Social Insurance purposes for 2022 has increased to €58,080 per annum (2021: €57,408 per annum).
It is reminded that the
contributions an employer is required to make on the gross emoluments of its
employees are as follows:
* An employer can be granted
an exemption when paid annual holidays are offered and upon certain conditions
being met.
Besides the Social Cohesion
Fund for which contributions are uncapped, for the rest of the funds the
contributions are capped as per the above mentioned threshold.
Employees are required to
contribute only to the Social Insurance Fund at the same rate as with the
employers and subject to the same earnings cap.
Contributions to the various employment-related funds are tax-deductible, and the employer’s contribution is not taxable for the employee.
