What a hire really costs in Cyprus.
Type the monthly salary you plan to offer. See the full yearly cost to your company, with Social Insurance, GeSY, the employer funds, a 13th salary and the Holiday Fund if you pay them.
- For one hire or a team
- Rates checked continuously
- Free, no sign-up
Before deductions, for one month.
To budget a team, enter how many you'll hire at this pay.
One employee, per year
- Gross, 12 payments
- €36,000.00
- Social Insurance (8.8%)
- + €3,168.00
- GeSY (2.9%)
- + €1,044.00
- Redundancy (1.2%)
- + €432.00
- Training (0.5%)
- + €180.00
- Social Cohesion (2%)
- + €720.00
15.4% on top of the gross salary
Your budget
- Per employee, a month
- €3,462.00
- Per employee, a year
- €41,544.00
- Employees
- × 1
- Every month, for all
- €3,462.00
Monthly figures are the yearly cost over 12 months.
An estimate for budgeting, with 2026 rates. It covers what the law makes the employer pay. It leaves out benefits in kind, a provident fund, bonuses, equipment and any grant or subsidy. Caps are applied over the year, so on a 13th salary near the Social Insurance ceiling the real split between months can differ.
What the employer adds.
None of these come out of your employee's pay. They're on top of the gross salary, and you pay them with the payroll each month.
- 01The gross for the year is the monthly salary times 12, or 13 with a 13th salary.
- 02If you pay the Central Holiday Fund, add 8% of the gross. The other contributions are then charged on the gross plus that 8%.
- 03Add your Social Insurance, GeSY and the three employer-only funds. Social Insurance, Redundancy and Training stop at the yearly ceiling; GeSY stops at its own cap; Social Cohesion has no cap.
| Social InsuranceOn pay up to €68,904 a year | 8.8% |
|---|---|
| GeSYOn pay up to €180,000 a year | 2.9% |
| Redundancy fundOn pay up to €68,904 a year | 1.2% |
| Training fundOn pay up to €68,904 a year | 0.5% |
| Social Cohesion fundOn the whole salary | 2% |
| Central Holiday FundThe minimum rate, for 4 weeks of leave. Not due with an exemption. | 8% |
|---|
Rates checked continuously. Social Insurance, the employer funds and the Holiday Fund come from the Ministry of Labour, the health contribution from GeSY. The Holiday Fund method follows the Ministry's worked example.
Hiring costs, answered.
Planning a first hire? Ask us on WhatsApp.
Read next
- Salary calculatorWhat the same salary leaves your employee after deductions.
- Payslip generatorMake a payslip for the month, ready to save as a PDF.
- How to hire your first employee in CyprusEmployer registration, and what's due each month.
- Social Insurance in CyprusWho pays what, the ceiling, and when it's due.
- Employee or contractor?How to tell, and what changes for you.
- Payroll in SumlyPayslips and contributions, in the same books.
Budget the hire. Then run the payroll.
30 days free on the software. Or book a call and we'll show you around first.