4% increase in the social security contribution exemption for pay periods from July 1, 2023, to December 31, 2023
- May 31, 2023
- Reading time: 4 min
News No. 15/2023
With Message No. 1932 dated May 24, 2023, INPS sets forth the operational instructions regarding the 4% increase in the exemption on the employee’s share of social security contributions for disability, old age, and survivors’ benefits, introduced by Art. 39 of the so-called Labor Decree (Decree-Law No. 48/2023).
The exemption in question, will apply to pay periods from July 1, 2023, through December 31, 2023.
First, it is worth noting—as stated in the INPS message discussed in this circular—the exemption for workers already provided for in the 2023 Budget Law and applicable to pay periods from January 1, 2023, to December 31, 2023, namely:
2%, provided that the taxable income, calculated on a monthly basis for 13 months, does not exceed the monthly amount of 2,692.00 euros, plus, for the month of December, the prorated portion of the thirteenth-month bonus;
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