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July 2016 updates
Effective in July 2016’s payroll there will come into effect several changes in labor laws: 1. Mandatory pension law Correction 12 to this law was updated, adding 1% to employee and employer pension plan contributions in a two step update: 1/2% in July 2016 and another 1/2% in jan 2017. The current update (July 2016) % are now Employee 5.75% and Employer 6%. This effects all employers in Israel…
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