What is the ERC (European Research Council)? Find more information here:

-ERC website
-Euresearch: the Swiss guide to European research & innovation

Q: Can the grant cover the Principal Investigator’s own salary?

Yes, if the PI is not already employed by the host institution.
All personnel costs which are necessary for the conduct of the research project can be covered by the grant. Those personnel costs (excluding personnel costs for subcontracting) will be reimbursed to 100%. The level of the Principal Investigator’s salary together with the overall personal cost calculation of the project must however be in line with the host institution’s own accounting principles.