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If you are interested in hiring a remote team in Myanmar, or even just individual remote employees in Myanmar, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Myanmar payroll solutions. As a Myanmar payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Myanmar. We are confident Rivermate’s payroll solutions Myanmar will help you grow as a business—because now, you won’t have to worry about your payroll solutions Myanmar. We take care of everything payroll!
With Rivermate, you can run Myanmar 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 Myanmar 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.
The standard corporate tax rate in Myanmar is 25%. As an employer, you must also deduct taxes from employees' paychecks using the Pay As You Earn (PAYE) system. Employees owe more as their earnings increase because the country has a progressive income tax rate ranging from 0% to 25%.
Companies that wish to expand their operations globally have four different payroll options in Myanmar. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Myanmar. 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. Myanmar payroll outsourcing: Outsourcing your payroll to an Employer of Record in Myanmar, 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 Myanmar 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 Myanmar have different ways of managing payroll. However, most of the options you have for running payroll in Myanmar are either expensive or require establishing a subsidiary in Myanmar. The cheapest, most efficient, and most reliable payroll processing system in Myanmar is by outsourcing payroll to Employers of Record (EOR) in Myanmar. 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 Myanmar. 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 Myanmar. 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 Myanmar.
The employer must offer a written notice of termination.
An employee must get one written and two spoken warnings prior to being terminated for misconduct. If an employee commits another infraction within 12 months of receiving the third warning, he or she may be terminated without notice or severance pay.
If the employer initiates the dismissal, wages must be paid within two business days of the employee's termination.
Myanmar's minimum wage is 4,800 MMK per day, an increase from 3,600 MMK per day in 2018. Employers are required by the Payment of Wages Act to pay daily and part-time workers in cash, cheque, or bank transfer according to their fixed-wage period. All permanent workers and other monthly fee earners should be paid on a monthly basis at the conclusion of their pay cycle.
Working hours restrictions vary by industry. Employees in factories typically work 44 hours per week and eight hours per day. Adult males employed in continuous work environments may work up to 48 hours per week. Employees in a store or establishment can work up to 48 hours per week and eight hours per day on average. Employees in oil fields or mines are permitted to work up to 44 hours a week.
Each week, employees are entitled to one day of rest. Sunday is a day of rest for industry workers. Employers can select which days are rest days outside of factories. Employees are not permitted to work more than ten consecutive days without taking a day off.
Myanmar has 24 public holidays, including ten days off for the country's New Year's festivities. Employees should be entitled to those paid days off, as well as one paid day off each week as a vacation entitlement.
If an employee becomes ill, they are entitled to 30 days of sick leave for medical treatment as long as they have the proper documentation. Maternity leave is governed by the Leave and Holidays Act of 1951. Female workers should be entitled to 14 weeks of paid maternity leave, divided into six weeks before and eight weeks after the delivery. Those who contribute to the Social Security Fund should be given more time off.
Myanmar's social security system offers healthcare to qualified workers.