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If you are interested in hiring a remote team in Armenia, or even just individual remote employees in Armenia, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Armenia payroll solutions. As a Armenia payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Armenia. We are confident Rivermate’s payroll solutions Armenia will help you grow as a business—because now, you won’t have to worry about your payroll solutions Armenia. We take care of everything payroll!
With Rivermate, you can run Armenia payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Armenia payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
Every Armenian worker born after January 1, 1974, is required to have a social security account.
Employees must contribute 3.5% of their monthly earnings up to 500,000 drams per month, and 10% of their monthly earnings over 500,000 drams per month, less a government flat-rate contribution of 32,500 drams.
On January 1, 2022, these rates will change, and employees will be required to contribute 4.5% of their monthly earnings up to 500,000 drams per month, and 10% of monthly earnings over 500,000 drams per month, less a government flat-rate contribution of 27,500 drams.
Companies that wish to expand their operations globally have four different payroll options in Armenia. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Armenia. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Armenia payroll outsourcing: Outsourcing your payroll to an Employer of Record in Armenia, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
Payroll management entails paying employees while adhering to labor laws. Taxes, leave, benefits, and other elements are required by law. When you work with a payroll company in Armenia, such as Rivermate, all of the compliance is handled by professionals.
Companies that have a business presence in Armenia have different ways of managing payroll. However, most of the options you have for running payroll in Armenia are either expensive or require establishing a subsidiary in Armenia. The cheapest, most efficient, and most reliable payroll processing system in Armenia is by outsourcing payroll to Employers of Record (EOR) in Armenia. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Armenia. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Armenia. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Armenia.
Employers must have valid reasons and provide notice before terminating an employee.
Employees are entitled to a minimum monthly wage that excludes bonuses, additional payments, and incentives. Divide the monthly salary by the total number of hours worked to arrive at the minimum hourly rate.
Those who work in hazardous environments earn a premium over their average salary. Bonuses are prevalent.
Currently, the minimum hourly wage is 406 Drams (1 USD) and the monthly minimum wage is 68,000 Drams (140.24).
Armenians should work an eight-hour day and not more than forty hours per week.
Medical services are provided directly to patients by government health professionals. General and specialty care, hospitalization, laboratory services, dental care, maternity care, and transportation are all included in the benefits package.