The rate of Social insurance contributions is applied to a maximum level of emoluments. The maximum level of emoluments for 2014 and 2013 is €54.396 (weekly €1.046/monthly €4.533).
The rate for 2014 is 7,8% for both the employer and the employee.
The rate for 2013 was 6,8% for both the employer and the employee.
Other employer’s contributions
The employer makes the following other contributions based on employee’s emoluments:
| % | |
| Social cohesion fund | 2,0* |
| Redundancy fund | 1,2** |
| Industrial training fund | 0,5** |
| Holiday fund (if not exempt) | 8,0** |
* Social cohesion fund is calculated on total emoluments and has no maximum level
** Restricted to the maximum level of emoluments as with the social insurance contributions
The contributions of self-employed persons are 14,6% (12,6% for 2013) of income. The amount of the contributions is subject to a lower and a maximum limit, depending on the profession or trade of the Self- Employed Person. These limits are set on an annual basis.