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If you are interested in hiring a remote team in Guatemala, or even just individual remote employees in Guatemala, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Guatemala payroll solutions. As a Guatemala payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Guatemala. We are confident Rivermate’s payroll solutions Guatemala will help you grow as a business—because now, you won’t have to worry about your payroll solutions Guatemala. We take care of everything payroll!
With Rivermate, you can run Guatemala 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 Guatemala 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.
Employees and employers in Guatemala are both required to contribute to certain tax funds. For example, both groups are required to contribute to social security at different rates — employers contribute 12.67% of wages, while employees contribute 4.83%.
Employers are also obligated to pay corporate income taxes. You have the option of paying income taxes on either profits or revenues. Profits from income are taxed at a flat 25% rate with no deductions, whereas revenues from income are taxed at a rate based on gross receipts with no deductions.
Companies that wish to expand their operations globally have four different payroll options in Guatemala. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Guatemala. 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. Guatemala payroll outsourcing: Outsourcing your payroll to an Employer of Record in Guatemala, 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 Guatemala 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 Guatemala have different ways of managing payroll. However, most of the options you have for running payroll in Guatemala are either expensive or require establishing a subsidiary in Guatemala. The cheapest, most efficient, and most reliable payroll processing system in Guatemala is by outsourcing payroll to Employers of Record (EOR) in Guatemala. 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 Guatemala. 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 Guatemala. 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 Guatemala.
Except for giving written notice and for reasonable cause, Guatemala lacks a standardized termination procedure. However, there are few instances in which an employer must request permission to terminate an employee: if the person is pregnant or nursing; if the employee is active in the creation of a union; and if the employee is involved in “collective conflict” under collective bargaining.
The minimum wage in Guatemala varies by sector, according to the country's compensation laws. Non-agricultural employees, for example, earn 92.88 Guatemalan quetzals per day as of January 2021. Employees in export-sector factories should be paid 84.88 quetzals per day. Employees earning the minimum wage should be required to receive a monthly bonus of 250 quetzals. Salaried employees should also receive two mandatory yearly bonuses, each equal to one month's salary.
The standard work week is 44 hours long and includes eight hours of sleep. This can be increased to a maximum of 48 hours per week by adding two hours per day. Managers and supervisors are permitted to work a maximum of 12 hours per week. Employees are entitled to 30 minutes of rest per day and one day of rest after five days, but the law makes no reference to a specific day.
Nighttime work is limited to 36 hours per week, divided into six six-hour shifts between 6 p.m. and 6 a.m. If the shift includes daytime work, the cap is increased to 42 hours.
Employees under the age of 14 are not permitted to work nights or overtime. Their workweek is limited to 38 hours, with a maximum of seven hours per day.
Probationary period, annual leave, public holidays, sick leave, maternity leave, paternity leave, overtime pay, severance pay, and 13th month pay are among the mandatory benefits stipulated by Guatemalan labor law.
Social security benefits are also included in statutory benefits.
