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If you are interested in hiring a remote team in Equatorial Guinea, or even just individual remote employees in Equatorial Guinea, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Equatorial Guinea payroll solutions. As a Equatorial Guinea payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Equatorial Guinea. We are confident Rivermate’s payroll solutions Equatorial Guinea will help you grow as a business—because now, you won’t have to worry about your payroll solutions Equatorial Guinea. We take care of everything payroll!
With Rivermate, you can run Equatorial Guinea 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 Equatorial Guinea 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.
When you choose an Equatorial Guinea payroll option, you must ensure that both you and your employees pay the correct amount of taxes. Employers, for example, pay the National Institute of Social Security 21.5% of employee salaries. Employees contribute only 4.5% of their earnings. You must also contribute 1% to the Work Protection Fund (WPF) and ensure that employees contribute 0.5%.
Companies that wish to expand their operations globally have four different payroll options in Equatorial Guinea. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Equatorial Guinea. 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. Equatorial Guinea payroll outsourcing: Outsourcing your payroll to an Employer of Record in Equatorial Guinea, 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!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Equatorial Guinea can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Equatorial Guinea have different ways of managing payroll. However, most of the options you have for running payroll in Equatorial Guinea are either expensive or require establishing a subsidiary in Equatorial Guinea. The cheapest, most efficient, and most reliable payroll processing system in Equatorial Guinea is by outsourcing payroll to Employers of Record (EOR) in Equatorial Guinea. 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 Equatorial Guinea. 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 Equatorial Guinea. 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 Equatorial Guinea.
Employers and employees both have the right to terminate an employment contract. Depending on the grounds for termination, advance notice may be necessary. In some instances, severance may be required.
According to Equatorial Guinea's labor laws, the monthly minimum wage is 29,035 CFA francs. Employees should receive bonuses after working for your company for a year, including a National Independence Day bonus, 15 days of their salary paid before October 12 of each year, and a Christmas bonus paid before December 24 of each year.
A typical workweek consists of 48 hours. Employees work an average of eight hours per day, six days a week. For young workers and in certain other circumstances, work hours are reduced.
Healthcare is scarce, therefore supplemental private insurance is advised.
The country observes ten national holidays, and businesses should provide workers with paid time off on all of them. Employees must get a full month of vacation for each complete year they have worked for your business, according to Article 54 of the Labor Law.
Paid maternity leave is a perk that all female workers are entitled to. Women may take up to six weeks off before giving birth and up to six weeks off after giving birth. If there are medical problems, a competent health authority must approve the employee's return to work before they may do so.
