Self-employed – Farmers: How much are insurance contributions increasing [tables]
The decision on determining the insurance contributions for self-employed and farmers, according to the relevant law, was signed by the Deputy Minister of Labor and Social Security Panos Tsakloglou.
In particular, according to the decision, the upper limit of insurable earnings for the calculation of the monthly insurance contribution of employees and employers is increased by 3.46% for the current year and amounts to 7,373.88 euros.
According to the current law 4670/2020, the insurance contributions of self-employed, independent professionals and farmers adjusted for the current year based on the average inflation of the previous year.
From the Ministry of Labour it is reported that the projected increases are quite low, as our country managed to keep inflation at low levels despite strong inflationary pressures internationally.
Furthermore, it is noted that the Katrougalou law linked the contributions of the self-employed to the taxable income, while the Vrutsi insurance law led to the change of the self-employed contribution system from January 1, 2020, disconnecting them from the taxable income and provided for the freezing of contributions for the years 2021 and 2022 at the initial amount.
The new contributions apply from 1 January 2024 and are scaled across six different classes. The insured have the possibility to choose freely the class of contributions they will pay.
In particular, the insurance categories are structured for 2024 as follows:
