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In Cyprus, it is customary for employers to provide employees with an additional month's salary as a special bonus at the end of the year, typically during the holiday season.
The thirteenth salary serves as a form of recognition and appreciation for employees' hard work and dedication throughout the year. It can provide a significant financial boost during the festive season, allowing employees to enjoy the holidays, cover expenses, and support their families.
Integrating IceHrm into HR practices in Cyprus can assist in efficiently managing the process of thirteenth salary calculations and distribution. The system can automate the calculations based on predefined rules, track employee records, and generate accurate reports for payroll purposes.