| Contributions % | 2019 | 2018 | |
|---|---|---|---|
| Employer | 8,3 | 7,8 | |
| Employee | 8,3 | 7,8 |
Social insurance contributions are restricted to a maximum amount that is usually increased annually. The maximum amount that applies for 2019 is €54.648 (weekly €1.051/monthly €4.554).
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** |
| Holyday fund (if not exempted) | 8,0** |
* Social cohesion fund is calculated on total emoluments and has no maximum level
** Restricted to the maximum level as with the social insurance contributions
As from 1 January 2019 the contributions of self-employed persons are 15,6% of their income (14,6% for 2014-2018). Thereafter, the rate will increase by 1% every five years until it reaches 19,6% as from 1 January 2039. The amount of the contributions is subject to a lower anda maximum limit, depending on the profession or trade of the Self-Employed Person. These limits are set on an annual basis.
Important note: This article has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice from a qualified accountant.