A bill which temporarily cuts social insurance payments for employers, to save jobs during the current financial crisis, was signed into law by Czech President Václav Klaus on Tuesday. The law allows firms to pay less social insurance for each of their employees until the end of 2010. It will come into effect on August 1, a spokesperson for the President’s Office said on Tuesday. The law will see employers pay just over three percent less for each of their employees and is aimed at protecting those in the lowest paid jobs, whose positions are most at risk, said Labour and Social Affairs Minister Petr Šimerka on Tuesday. The law forms part of the government’s anti-crisis stimulus package.