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If you are interested in hiring a remote team in Nepal, or even just individual remote employees in Nepal, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Nepal payroll solutions. As a Nepal payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Nepal. We are confident Rivermate’s payroll solutions Nepal will help you grow as a business—because now, you won’t have to worry about your payroll solutions Nepal. We take care of everything payroll!
With Rivermate, you can run Nepal 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!
Creating an in-country subsidiary is the first step in setting up payroll. Before registering your company, you must obtain approval from the appropriate industries or departments. Agriculture, industry, and electricity are all common departments. You will also be issued a permit to conduct business in your industry.
Following the issuance of your license, you must register your company with the Office of the Company Registrar. This step entails a number of forms and several weeks of processing time. Once your company is registered, you can open a bank account and register with the Inland Revenue Department (IRD).
Opening a subsidiary can take anywhere from a few weeks to a month from start to finish. However, once the process is completed, you are responsible for keeping track of taxation and managing your expenses through your in-country bank account.
Employers must withhold government taxes from employee paychecks, which can include a variety of tax types. The Nepal Bureau of Standards and Metrology (NBSM) requires withholding of social security and basic income taxes. Making sure you withhold the correct amount of tax keeps your company in compliance and helps the retirement community.
The social security provident fund requires 10% of remuneration from both the employer and the employee. In addition, pension schemes receive an 8.33% gratuity. Residents' income taxes vary depending on their income bracket, and can range from 1.5% to 25%.
Companies that wish to expand their operations globally have four different payroll options in Nepal. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Nepal. 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. Nepal payroll outsourcing: Outsourcing your payroll to an Employer of Record in Nepal, 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 Nepal 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 Nepal have different ways of managing payroll. However, most of the options you have for running payroll in Nepal are either expensive or require establishing a subsidiary in Nepal. The cheapest, most efficient, and most reliable payroll processing system in Nepal is by outsourcing payroll to Employers of Record (EOR) in Nepal. 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 Nepal. 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 Nepal. 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 Nepal.
An employment contract may be terminated by either party at the conclusion of the contract period (if it is for a defined time), upon completion of the job (if it is performance-based), or by both parties. Employers must have a legitimate reason for terminating employment.
According to the law, an employer may terminate an employee for unsatisfactory performance. However, the employer should give the employee at least seven days to present an explanation.
Employers may terminate employment based on ill health if the employee has been deemed disabled by a medical practitioner. However, if the worker sustains an injury on the job and is getting treatment, the employment cannot be terminated for a period of one year. Unless verified by a medical practitioner, the employment of a worker undergoing treatment cannot be terminated until six months have passed.
An employee may freely resign by submitting a written resignation letter. Within 15 days, the employer must approve the resignation. If the employer does not accept the resignation within 15 days, it is presumed to be accepted. The resignation may be revoked by mutual consent or if the employee continues to work after the last day of employment.
Except for dismissals for misbehavior, both employers and employees are obligated to offer notice of termination or resignation. The notice period is proportional to the length of service.
The minimum wage in Nepal is NPR 13,450 a month.
In Nepal, the standard workweek is 48 hours, or eight hours per day for six days. After five hours of work, employees are entitled to a half hour of rest.
Employers must provide transportation to and from work for female employees working between sunset and sunrise.
A minimum of NPR 100,000 is required for health insurance, with both the employee and the employer contributing 50%. Accident insurance is also required by Nepalese labor regulations in the event of an injury on the job. This should be a minimum of NPR 700,000, and it should be fully covered by the employer.
If an employee dies on the job, the accident insurance proceeds to the worker's next of kin.
Religion is very important in Nepalese culture. Employers are obliged to provide a festival allowance of one month's salary to all workers in order for them to celebrate different religious holidays.
Employees may also cash in their accumulated leave when they leave the company. They are permitted to take up to 90 days of personal leave and 45 days of sick leave.
