The subsidy of part of the salary cost of the person to be hired is provided by the 3rd Invitation for submission of applications under the Sponsorship Plan “Incentive Plan for Employment of the Unemployed” by the Ministry of Labor.
The Ministry of Labor, Welfare and Social Insurance announced the 3rd Call for applications under the Sponsorship Scheme “Incentive Employment Incentive Scheme” and may be co-financed by the European Social Fund (EKT +) and the Republic of Cyprus.
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The Plan aims to tackle unemployment by providing incentives to employers to hire the unemployed. The incentives concern the subsidy of part of the salary cost of the person who will be hired. The Plan is included in the measures of active employment policy promoted by the Government for the integration of the unemployed in the labor market through their placement in subsidized jobs, including the provision of vocational training.
The method of simplified cost forms will be used to calculate the amount of the sponsorship. The sponsorship will be granted for the first ten (10) months of employment and with the obligation of the employer to maintain the employment of the employee for two (2) additional months without subsidy. The unit of cost for the specific Grant Plan is set at € 34 / working day and corresponds to the amount of sponsorship that each beneficiary will receive for each working day to be completed by the beneficiary, regardless of the actual salary costs borne by the employer / beneficiary.
The total amount that will be allocated for the needs of this call is four million euros (€ 4,000,000).
Those interested can obtain the Plan Implementation Guide, which contains all the required details, the Proposal Application Form and any other required form or document, from the website of the Department of Labor (http://www.mlsi.gov. cy / dl), and the website of DG EPSA (http://www.structuralfunds.org.cy).
It is noted that applications are accepted from 8/11/2021 until the end of the fund or announcement for the end of the Plan. Relevant application forms should only be sent by e-mail (in pdf format) before the above deadline. Those interested can obtain more information on the website of the Department of Labor www.mlsi.gov.cy/dl.
The Ministry of Labor, Welfare and Social Insurance may extend or revoke the validity of this invitation by applying the same method of publication.