Social Security recently published directives to employers regarding a change in the % of employer’s contributions towards their employee’s benefits via payroll.
The changes are basically a reduction from the lower bracket (up to 4,984 shekels) and a raise in the % from the higher bracket (anything above 4,984 shekels). The amounts are gross (pre tax).
the % of the deductions and the raise are not equivilant.
Also, the maximum pay for Social Security and Health tax purposes is 73,422 shekels, as of Jan 2011.
Moshe Egel-Tal, CSPP
Founder and CEO, Israpay "making payroll simple"
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