Notes:  

The above calculation is for employed persons by Cyprus companies.

Social Insurance Contributions for Cyprus companies comprises of the following:

- Employees Contribution at 8.3%,

- Employers Contribution at 8.3%,

- Social Cohesion Fund at 2%,

- Redundancy Fund at 1.2%, and

- Industrial Training at 0.5%.

Holiday fund of 8% is optional usually used for seasonal workers. 

Employers Cost

Based on the above information for 2020 & 2021 the cost for the employer (i.e the Cyprus company) is 12%; Employers Contribution at 8.3%, Social Cohesion Fund at 2%, Redundancy Fund at 1.2% and Industrial Training at 0.5%.

The NHS (National Health System) is also paid via the Social Securities System and at present stands for 2.90% for employers and 1.70% for employees increasing the employers cost to 14.9% (12% Social Security Cost + 2.90% NHS).

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