The island nation has increased the maximum awarded fine for not paying salary to €5,000, and with prompt actions.
The amended bill, which has been published in the Cyprus gazette, the other major update is the use of the Euro currency, which was Cyprus pounds before.
Prior to amendment, €170 (or 100 Cyprus pounds) was the maximum fine for not paying salary, while 150 Cyprus Pounds was the fine for giving inaccurate data to labor inspectors. The latter now also stands to be €5,000.
Furthermore, Yiannis Panayiotou has announced that the Minimum Wage Adjustment Commission will now function on a practical basis.
Last but not least, the minimum wage for Cyprus has been set at €885 straight after recruitment, with €940 gross income post a six month of employment.
