New wage caps for social security contributions

Egypt General Social Insurance Authority adjusts social security contribution caps

The Egypt General Social Insurance Authority has recently revised the minimum and maximum caps for social security contributions, effective from 1 January 2024. This update follows the instructions issued in 2019, which mandated a 15% annual increase in the applicable caps from 2020 to 2027.

As of 1 January 2024, the revised caps are as follows:

Additionally, the applicable social security contribution rates in Egypt are as follows:

• Employee share: 11%
• Employer share: 18.75%
• Managers and board members included in commercial register: 21%
  

Deloitte’s view

These recent modifications reflect a proactive approach by Egyptian authorities to align social security with dynamic economic conditions. It is crucial for businesses to stay abreast of these regulatory shifts in order to maintain legal and financial stability. In this context, our team at Deloitte is ready to provide support, helping you navigate these regulatory adjustments and ensuring that your practices remain in accordance with the latest legal requirements.