As we approach the new year, the Ministry of Labour and Social Insurance in Cyprus has introduced a crucial update for employers. Starting January 2, 2025, all employers are legally obligated to register essential employment terms for their employees in the governmental electronic system, “Egani.” This requirement stems from the “Transparent and Predictable Working Conditions Law” and aims to enhance transparency in employment relationships.

What Does This Mean for Employers?

Under this new regulation, employers must ensure that they submit the following information for each employee to the Egani system between January 2, 2025, and February 28, 2025:

1. Employer Information:
   • Details about the employer, including the type of business for retail operations.
2. Employee Information:
   • Personal and employment details such as job descriptions, roles, and start dates.
3. Contractual Terms:
   • Working hours (including unpredictable schedules, if applicable).
   • Probationary periods, annual leave entitlements, and other employment terms.
4. Compensation Details:
   • Salary, payment frequency, and any additional benefits or allowances.

Why This Matters

This initiative aims to improve accountability and predictability in the workplace, offering employees greater clarity about their employment terms. For employers, compliance ensures that they avoid penalties while maintaining good standing with the Ministry of Labour and Social Insurance.

How Can You Prepare?

Managing and submitting this data might seem daunting, but preparation is key. Start by:

• Reviewing all employment contracts and ensuring they are updated.
• Compiling the required information for each employee.
• Planning for a smooth submission process during the required period.

How We Can Help

At Evidentrust Financial Services Ltd, we specialize in supporting businesses through regulatory changes like this. Our team can assist you by:

• Gathering and organizing the required data efficiently.
• Submitting the information accurately to the Egani system.
• Providing guidance and troubleshooting any issues that may arise during the process.

Act Now to Stay Compliant

Don’t leave compliance to the last minute. Let us help you navigate this new requirement seamlessly, allowing you to focus on running your business.

Contact us today to learn more about how we can assist you.