2023 Exemption from Disability, Old-Age, and Survivors’ Benefits Contributions.
- Feb. 6, 2023
- Reading time: 7 min
News No. 3/2023
Subject: 2023 Exemption from the Employee’s Share of Disability, Old-Age, and Survivors’ Benefits Contributions
Budget Law No. 197 of December 29, 2022 (2023 Budget Law), in Article 1, paragraph 281, provides, on an exceptional basis and for pay periods from January 1, 2023, to December 31, 2023, for an exemption from the portion of social security contributions for disability, old age, and survivors’ benefits payable by the employee.
This exemption in 2023 is granted:
- By 2 percentage points, provided that the taxable income, calculated on a monthly basis for thirteen months, does not exceed the monthly amount of 2,692, plus, for the month of December, the accrued thirteenth-month bonus;
-By 3 percentage points, provided that the taxable income, calculated on a monthly basis for thirteen months, does not exceed 1,923 euros, plus, for the the month of December, by the accrued thirteenth-month bonus.
It is worth noting that, as expressly provided by law, the rate used to calculate pension benefits remains unchanged.
All employees in the public and private sectors are eligible for this benefit, provided that the monthly salary limits defined above are met.
It is important to remember that:
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