4% increase in contribution exemption for pay periods from July 1, 2023, to December 31, 2023
- giorgiafrisenda
- May 31, 2023
- Reading time: 4 min
News . 15/2023
With message no. 1932 of May 24, 2023, INPS (the Italian National Social Security Institute) issued operational instructions relating to the 4% increase in the exemption on the portion of social security contributions for disability, old age, and survivors payable by employees, introduced by Article 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, to December 31, 2023.
Firstly, it is useful to recall, as stated in the INPS message discussed in this circular, the exemption for workers already provided for in the 2023 Budget Law and recognized for the pay periods from January 1, 2023, to December 31, 2023, namely:
Equal to 2%, if the taxable remuneration, calculated on a monthly basis for 13 months, does not exceed the monthly amount of €2,692.00, increased, for the month of December, by the accrual of the thirteenth month's salary;