NEW FUNDS TO ENCOURAGE THE HIRING OF YOUNG PEOPLE (IL SOLE 24 ORE, MAY 8, 2014 , PAGE 40)

The European Commission is releasing the refinancing process provided by the Law Decree 76/2013,  which provides an incentive for the hiring of young people with open ended contract by providing funds of EUR 794 million exclusively in favor of the central-northern regions. The incentive operates through a social security benefit paid by INPS to employers who hire employees aged between 18 and 29 years old who have not had regular paid employment for a least six months or do not have a high school diploma, by way of an indefinite contract by June 30, 2015. The incentive amounts to a third of gross monthly salary taxable for social security purposes and has a duration of 18 months and a maximum of EUR 650 per month for each employee hired. The same incentive, but with a duration of one year, is also provided for employer who convert existing employment relationship in open ended contract, of course, of employees under 30 years old.