The Employer Job (PRSI) Incentive - saving employers on average €3000
Did you know that the Incentive Scheme for creating jobs will save an employer in the region of €3,000 from the annual cost of employing an additional worker?
This was introduced at the beginning of this year and offers employers an incentive to employ new staff. Highlights as follows:
- The measure is being deliberately targeted at those who have been unemployed for six months or more.
- The scheme will be open to applications in relation to any job created in 2010 - if you have created a new job in 2010 and employed a person who had been unemployed for 6 months or more, then you should now apply for an exemption. If your application is approved you will not have to pay employer’s PRSI for 12 months forward from the approval date.
- The job must be full-time and must be new and additional – employers will not be allowed to substitute existing employees to avail of the scheme;
- The employer will be required to furnish an up-to-date Tax Clearance Certificate;
- Employers will be limited to a maximum participation rate of 5% of their existing workforce or, for smaller companies, a maximum of 5 new jobs;
- The job must last for 6 months or more. If it does not the PRSI exempt amounts will have to be repaid by the employer.
Full details of the Employer Job (PRSI) Incentive Scheme are available at www.welfare.ie. For further information, please contact Dylan Byrne, Partner
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