|
On June 6, 2010, the Minister of Finance issued Decree No. 364 of 2010 amending certain provisions of Ministerial Decree No. 554 of 2007 regarding the basic and variable salaries according to which social insurance contributions are calculated. As of July 1st, 2010, the maximum variable annual wages are set at EGP 10,800. Accordingly, social insurance contributions shall be calculated on the basis of the following monthly salaries: (1) Basic Salary: minimum of EGP 119.00 and maximum of EGP 850.00; and (2) Variable Salary: no minimum and a maximum of EGP 900.00 Therefore, the maximum salary on which social insurance contributions are calculated is EGP 1,750.00. For further information, please contact us.
|
