Hire and manage employees

Hire and manage employees

Establish a basic payroll structure to help you hire employees. Then, manage employees properly with a general understanding of local labour laws.

                                              Employees                                                                                        Independent contractors

Employee benefits

The Cayman Islands has certain laws and regulations in place regarding employee benefits. Here are some key benefits required by Cayman Islands laws:

National Pensions Law: Under the National Pensions Law, employers are required to contribute to a pension plan for their employees. Both the employer and the employee make contributions based on a percentage of the employee's earnings, with a minimum contribution set by law.

Health Insurance: Employers are obligated to provide health insurance coverage for their employees. The Health Insurance Law mandates that employers offer a standard health insurance plan that meets the minimum coverage requirements set by the government. The cost of the premium is typically shared between the employer and the employee.

Paid Vacation: According to the Labour Law (2011 Revision), employees are entitled to a minimum of two weeks of paid vacation annually after completing 12 consecutive months of continuous employment. This increases to three weeks after completing 10 years of continuous employment.

Public Holidays: Employees are entitled to paid time off for public holidays, which include New Year's Day, National Heroes Day, Good Friday, Christmas Day, and other designated public holidays.

Maternity and Paternity Leave: The Labour Law provides provisions for maternity and paternity leave. Female employees are entitled to a minimum of 12 weeks of maternity leave, while male employees are eligible for at least two weeks of paternity leave.

Sick Leave: The Labour Law mandates that employees are entitled to sick leave with pay for a specified period based on the length of their service. The exact provisions may vary based on the length of employment and the terms outlined in employment contracts.

Requirements and regulations may vary depending on factors such as the employee's job classification, length of service, and the terms outlined in employment contracts. 

It is advisable to consult the Cayman Islands Department of Labour and Pensions or seek legal advice to ensure compliance with current laws and regulations related to employee benefits.