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Social Insurance Fund Contribution Rates Increase in 2024

SPL Audit wishes to notify our clients and associates that as of January 1st, 2024, there will be amendments to the social insurance fund contributions in accordance with Social Insurance Law 59(I) of 2010

As per the Social Insurance Law of 2010 regulations, starting January 1st, 2024, employers and employees will be required to contribute an additional 0.6% to the Social Insurance Fund on their insurable earnings. The contribution rate will increase from the current 8.3% to 8.9%.

If you have any questions or need more clarification, please do not hesitate to contact us. We’re here to help you.

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