Payroll services

Each company, in order to carry out its business, should have two types of elements – corporeal and personal. Corporeal elements include land, infrastructure, machinery, equipment, etc. The personal elements are the people. Each of these two elements is of utmost importance to the stable and profitable development of your business.
The human capital of an enterprise is the entire quantitative set of employees with a particular activity within it. In the analysis of human resources, it is necessary to take into account their qualitative characteristics composition, structure, education, and qualification of employees.
The trend is a constant increase in the usefulness and value of the employee for the organisation in which they work, while increasing their value and the requirements to the employer to build open, upright and lawful relationships.

In Bulgaria, there are a National Classification of Economic Activities and a National Classification of Occupations in effect. Every company in Bulgaria, at the start of its business, should classify its operations using a four-digit code from the National Classification of Economic Activities, which should be entered in all official documents. The structure of the staff is relevant for determining the code of the National Classification of Occupations.
The two classifications are used in determining the minimum insurable earnings of the employees.

Upon registering a company, regardless of what business it will carry out, the person registering it must be aware that payroll and labour law are some of the most important functions of accounting. It is no coincidence that not a significant part of the companies prefer using the professional services of specialists in the field of labour and social security law, thus ensuring their ease and comfort in the relations with both the staff and the control bodies.
Our company offers implementation of all types of activities related to the smooth regulation and development of the human capital of your business.

A core group of such activities related to your company’s human resources include the following:

● Preparation of all documents in connection with the employment of a new employee;
● Drafting of employment contracts for the staff, additional agreements to these and orders for their termination;
● Preparation of contracts for services and bills for paid amounts;
● Preparation and storage of employees’ records of service;
● Preparation and submission of notices under art. 62 of the Labour Code;
● Electronic submission of declarations form 1 and 6;
● Preparation of documents for retirement;
● Keeping the employment record books;
● Preparation of official notes and employee income certificates;
● Processing of documents for temporary incapacity to work, pregnancy and childbirth and their submission to the NSSI.

Another part of these activities are payroll services, which includes:
● Preparation of payroll documents, staff costs, budgetary relations, pay slips; preparation of files for cashless payment of salaries;
● Preparation and submission of payment orders for due insurance and taxes for the staff and owners.
It is a service that will save you valuable time and will guarantee quality of service. In full compliance with the current regulations and the current changes in the regulatory framework, our specialists will take care of all aspects of the business activity related to the preparation of the payroll and personnel documents.

Our clients also receive the following services:
● Representation of the companies before the NRA authorities in audits in connection with income tax, compulsory social security contributions and supplementary compulsory pension insurance;
● Drafting of intra-company documents: business trip orders, internal working regulations, and internal payroll regulations
● Working shift schedule processing;
● Mediation for occupational healthcare;
● Consultancy and assistance in hiring staff.

With us, you get an upright, responsible, and extremely experienced partner!

Frequently Asked Questions

Each self-employed person must pay the social security contributions on the minimum salary. In case you wish to pay higher contributions, you have to conclude a management and control contract or a freelance contract with your company.

There is no minimum remuneration requirement. The remuneration is a matter of negotiation between you and the worker, but there are requirements for minimum income at which you must insure the employee.
Example:
– If the person is employed with a salary of BGN 560, the personal contributions in the amount of BGN 77.17 will be withheld and the tax will be calculated as follows – 560-77.17 = 482.83; 482.83 * 10% = BGN 48.28. The net income of the person will be 434.55 (560-77.17-48.28);
– If the person is employed with a salary of BGN 400, the personal contributions in the amount of 77.17 BGN will be withheld, i.e. again at the required minimum – 560 BGN, and the tax will  be calculated as follows – 400-77.17 = 322.83; 322.83 * 10% = BGN 32.28. The net income of the person will be BGN 289.95 (400-77.17-32.28).

The insurable income may not be lower than the minimum thresholds for the company’s business activities and the position of the employed person as defined in the National Classification of Economic Activities and the National Classification of Occupations.

It is not permissible to conclude a contract for services with persons who have a designated place of work and determined working hours.

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