Social Insurance Deductions & Contributions
Since the 01st of January 2019, the Social Insurance deductions and contributions are as described below:
| Category | Holiday Fund % | Social Insurance Fund % | Social Cohesion Fund % | Redundancy Fund % | Industrial Fund % |
| Employer’s
Contribution |
8-11 | 8.3 | 1.2 | 0.5 | 2 |
| Employee’s Deductions | 8.3 |
The holiday fund percentage depends on the business/company. Overall, businesses related to office work pay 8% of holiday fund, the construction industry pay 9%, and the business related to tourism pay 11%.
All the above-mentioned calculations are based on the gross salary of an employee. The maximum salary based on which the social insurance contributions are calculated is €54,396 per annum, which €4.533 per month and €1046 per week.
An employee’s social insurance payments are done monthly.
Self-Employment
The social insurance for self-employed individuals is divided into categories by occupation; each category has a determined minimum income, based om which the social insurance is calculated. The maximum salary for self-employed individuals is €1.046 per week. If the income of a self-employed individual is higher or lower than the determined category income, then such an individual may raise an objection and hence request to pay according to the actual received income.