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If you are interested in hiring a remote team in Hungary, or even just individual remote employees in Hungary, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Hungary payroll solutions. As a Hungary payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Hungary. We are confident Rivermate’s payroll solutions Hungary will help you grow as a business—because now, you won’t have to worry about your payroll solutions Hungary. We take care of everything payroll!
With Rivermate, you can run Hungary 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 Hungary 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.
Employers must make the appropriate tax contributions in order to remain compliant. Employers, for example, are required to contribute 13% of gross salary to social security, while employees contribute 10% to pension, 7% to social security, and 1.5% to unemployment.
As an employer, you must also pay a 9% flat corporate income tax. Employees pay a 15% income tax regardless of their income level.
Companies that wish to expand their operations globally have four different payroll options in Hungary. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Hungary. 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. Hungary payroll outsourcing: Outsourcing your payroll to an Employer of Record in Hungary, 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 Hungary 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 Hungary have different ways of managing payroll. However, most of the options you have for running payroll in Hungary are either expensive or require establishing a subsidiary in Hungary. The cheapest, most efficient, and most reliable payroll processing system in Hungary is by outsourcing payroll to Employers of Record (EOR) in Hungary. 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 Hungary. 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 Hungary. 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 Hungary.
Both the employee and the employer must provide termination in writing and include a cause for dismissal that is justified.
The minimum wage in Hungary is set at 167,400 HUF. However, when the job requires secondary educational and vocational qualifications, the guaranteed minimum wage is 219,000 HUF.
In Hungary, the standard work week is up to eight hours per day, five days a week.
Hungary offers comprehensive medical coverage to all citizens, with payroll contributions serving as one source of funding. Certain groups, such as the unemployed and pensioners, are compensated by the government.
Employers in Hungary will occasionally provide additional private health care coverage. The most common non-wage benefits are meal vouchers and other non-wage benefits. The annual limit for non-wage benefits with a 35.7 percent tax liability is HUF 450,000. Non-wage tax benefits in excess of HUF 450,000 are subject to an overall tax liability of 51.17 percent.