Overview

Capital Dublin

Currency Euro (€) (EUR)

Date Format dd/mm/yyyy

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Taxes

Employer 10.75% - Social Security PRSI

Employee 4.00% - Social Security PRSI
1.00% - 11.00% - Universial Social Charge
20.00% - Up to 33,800
40.00% - Earned Income Remainder

Termination

Termination Process For an employee who worked 13 weeks to two years -one week's notice. Between two years and up to five years: two weeks' notice. Between five years and up to ten years: four weeks' notice. For an employee who worked up to 15 years: six weeks' notice. For an employee who has worked for 15 years or more: eight weeks' notice.

Advance Notice Advance notice time is agreed with the employer during the hiring process.

Severance Pay Employee is entitled to receive a payment for the annual leave time that they haven’t taken. There is no official severance payment.

Mandatory Benefits

Pension Fund Employers contribute 8.5% Class A employee PRSI on weekly earnings up to €376 and 10.75% anything above it. Majority of the workers in Ireland are considered class A workers. If they earn less than 325EUR per week, they are exempt from pension contributions, the employer will contribute on the employee’s behalf. If the employee earns between 325EUR they contribute 4% of the earnings. From 325.01EUR to 424EUR, the employees receive 12EUR credit for PRSI, which means (4% of 325.01 is 14.08EUR – 12.00EUR credit) the employee contributes only 2.08EUR. From there on, the PRSI is calculated by first finding out 1/6th of employee’s earnings above 325.01EUR, then subtracting this from 12EUR credit and calculating 4% charge on the earnings. Finally deducting the PRSI credit from PRSI charge.

Social Security For employees with weekly earnings of €356 or less, 8.5% of gross wages; for employees with weekly earnings greater than €356, 10.75% of gross wages. There are no maximum earnings used to calculate the employer's contributions. The employer's contributions also pay for sickness and maternity, work injury, unemployment, and adoption benefits.

Minimum Wage

General Minimum wage per month is 9.80 EUR hourly (From January 1 2019)

Payroll

General Salaries are paid either on weekly or monthly basis. Employees are paid on the last day of the month for work between the first and last day of the month.

VAT

General 23% standard rate.