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Cyprus (536) > Conditions of employment (37)

Name: Act No. 25(I) of 2001 to regulate the protection of employees' rights in the event of the employer's insolvency.
Country: Cyprus
Subject(s): Wages
Type of legislation: Law, Act
Adopted on: 2001-03-09
Entry into force:
Published on: Epissimos ephimeris tis Dimocratias, Part I, 2001-03-09, No. 3480, pp. 50-53
ISN: CYP-2001-L-60223
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=60223&p_lang=en
Bibliography: Epissimos ephimeris tis Dimocratias, Part I, 2001-03-09, No. 3480, pp. 50-53
Abstract/Citation: Includes all persons employed under a labour contract or an apprenticeship. Persons working under circumstances presumed as a working relationship are also considered as employees, but not those working for the Government of the Republic of Cyprus. Establishes a special Fund for the protection of employees' rights in the event of an employer's insolvency. The termination of employment due to an employer's insolvency gives the right to a compensation financed by the special Fund only if the working period of the employee covers twenty-six weeks before the date of the insolvency, with exceptions. The compensation covers the day wages of the last thirteen weeks of work, the percentage equivalent to the annual leave and the percentage equivalent to the thirteenth or fourteenth wage, and dues before the insolvency date. The calculation of the weekly wage does not take into consideration any sum superior to the weekly sum of the basic insurance revenues multiplied by four, as this is defined according to the Social Security acts from 1980 to 1999.
Amending text(s):

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