Companies are responsible to meet all necessary criteria and responsibilities concerning their employees in Cyprus. Our team can assist and ensure the completeness of the Payroll. Also, we handle all Payroll requirements relating to the Labour Department and Tax Office.
Our Payroll covers the following legislations:
Employment Contract or Relationship Laws of 2000 and 2007
Organisation of Working Time Laws of 2002 and 2007
Protection of Wages Law of 2007
The Fixed-Term Work Laws of 2003 and 2007
The Part-time Work Laws of 2002 to 2007
Maternity Protection Law
Termination of Employment Law
GHS Healthcare services and contributions
Employers must also take account of the following EU Directives in respect of employment in Cyprus:
Working Time Directive (WTD)
Data Protection Directive
Acquired Rights Directive
Payroll Outsourcing is becoming the preferred way of handling payroll functions within the corporate world. A company can achieve the following by Payroll outsourcing:
The current company employees have no access to Payroll figures
The accounts department (if in the company’s premises) knows only the monthly payment for the Payroll (employee’s salaries, social insurance and PAYEE is one amount)
We deliver payslips to employees based on the system we agree with the management. We have the ability to send payslips to employees through encrypted emails
Only the person in charge in the company is aware of exact figures.
We keep all records for the auditors and produce all necessary documents for each employee every year
The service includes payroll preparation both on a weekly and a monthly basis. Our payroll department prepares the payroll on fully computerised multi-currency systems, simplifying the administration of your business to your benefit.