Payroll

In the contemporary business world, successful and growing companies face the challenge of coping with constantly rising workforce needs. These needs bring more legislative regulations and higher demand for expert professionals in the field of payroll services.

As payroll is one of the most essential functions of every organization, we can relieve you of the burden of going through countless legislative documents while trying to figure out how to cope with part-time or full-time employees’ payroll, benefits, employee taxation and related issues. Thus, you will have more time to expand your business and make it more profitable.

Outsourcing of payroll department

Outsourcing your Payroll department provides a cost-efficient alternative for organization and management of all employment processes in accordance with the Bulgarian labor and tax legislation. This decision will both simplify your operations, and reduce your expenses for labor and software costs.

If you outsource your Payroll department, you will substantially reduce the daily workload of your accounting and administrative department, so they can focus their efforts at more valuable activities for your company.

We will help you with the full payroll administration of your staff:

• Preparation and processing of all paper work regarding employment agreements, discharges, term contracts and freelancers
• Calculation of personnel accretions and deductions
• Calculation of social security contributions on behalf of the employer
• Preparation of payments for taxes and salaries
• Preparation and submission of all obligatory declarations regarding the insured personnel to the respective authorities
• Advice on recruitment alternatives in accordance with the Bulgarian legislation

Personnel leasing

Personnel leasing is a business service where one legal entity provides to another, assigned workforce, covering all operations regarding the appointment, monthly remunerations and discharges, etc. Our service is flexible solution for the employing companies that need new employees, but do not wish to or are unable to hire them permanently as internal staff, for certain projects or foreign companies that do not wish or unable to register a local corporate entity.

Basically we will act as a local employer to your staff and will provide the following services:

• Appointing the personnel on our payroll
• Preparation and registration of agreements before the local tax authorities
• Full monthly payroll implementation, including calculation of taxes, social security contributions and salaries, along with the related paperwork
• Preparation of payments for taxes and salaries
• Termination of agreements and compensations calculation
• Advice on recruitment alternatives in accordance with the Bulgarian legislation

Organization and Management of payroll department

The payroll administration is a delicate matter that must be processed with absolute flawlessness and effectiveness. To ensure efficient and thorough completion of all payroll processes in your organization, Sisizar can execute a full internal audit of your payroll department and even establish better and more viable operating procedures pertaining to payroll. Our ultimate objective is to make certain your payroll procedures fully comply with current Bulgarian legislation.

This service covers the following levels:

• Full audit of the current agreements/contracts in the organization
• Calculation of remuneration packages, social security contributions, and taxes
• Examination and correction of payments to the personnel and the local tax authorities
• Audit of the submitted notifications regarding insured personnel to the respective authorities
• Build-up of new payroll strategies and procedures

Self–insured individuals

Self-insured persons are individuals who must pay social security contributions at their own expense. Every person without a valid employment insurance in Bulgaria, (painters, designers, owners of limited liability companies, etc.), is free to pay social security contributions on their own and be registered as a self - insured person in the local tax authorities.

The service we offer to the self - insured individuals in Bulgaria covers the following aspects:

• Registration as a self-insured individual
• Preparation and submission of a declaration form for registration of a self-insured person
• Calculation of monthly social security contributions and preparation of payments
• Preparation and submission of all mandatory declaration forms, regarding the insured person – both monthly and annual