PRSI holiday just the job for employers

EMPLOYERS will save millions of euro as the Department of Social Protection is “shortly” planning to implement a PRSI holiday for companies taking on new staff.

The Government was roundly criticised, particularly by opposition parties, for not including the Employer Job (PRSI) Incentive Scheme in last week’s Social Welfare Bill.

Yesterday, confirming the PRSI holiday will go ahead, the Department of Social Protection, which will administer the scheme, said it will support job creation, and counter the drift of people into long-term unemployment and welfare dependency. The scheme exempts employers from liability to pay their share of PRSI contributions – 8.5% or 10.75% of gross pay.