What is a Payroll Service?
A third-party company that helps with payroll related tasks is called a payroll service. Payroll service providers make the company’s life easier by helping them with many things connected to payments in time and accurately, for instance; employee’s work time, compensations, payroll taxes, etc.
What can Payroll Services help with?
Payroll services can not only offer the standard delivery services, but also can be a complex payroll management system for a company. Some of them also offer human resource assistance, but the main aim is to provide the payment of employees on time.
Some examples of payroll services:
- Employee attendance tracking
- Wage and time information and calculation
- Employee compensations
- Payroll tax calculation
- Electronic records of paypall
- Etc.
What is the role of Payroll Services?
Payroll services make your payroll processing easier and less stressful because the person who would be in charge of it in your company does not have to do the calculations connected to payroll manually and suffer a lot with it.
As an example, if a company has a payroll service provider, the employee only has to log in when his/her work time starts and log out when it finishes and the payroll service tracks the working hours and calculates the salary automatically. However, without the payroll service, this job should be done by one or more persons manually.
Hungarian Payroll Options for Companies
A Hungarian business or a business in Hungary can acquire different kinds of payroll options. It only depends on what they need.
Payroll service options in Hungary:
- Hungary payroll processing company
- Hungary payroll outsourcing company
- Internal payroll
- Remote payroll
Hungarian Payroll Processing Company
A Hungarian payroll processing company can help with your payroll processes, if you like outsourcing. However, this option is not the right for you if you also need help with compliance.
Hungarian Payroll Outsourcing Company
If you would like to have a solution not only for your payroll, but also your compliance issues, then this is the perfect option for you. All your employees’ payroll and compliance can be solved together. With this option you have more time to focus on more important things regarding your business.
Internal Payroll
If you would like to increase the presence of your company in Hungary, then this is the perfect option for you. Also, there is no need to hire HR employees who clearly understand all Hungarian compliance and employment laws. A payroll service provider company can do it for you.
Remote Payroll
If you wish to choose, is it possible for all employees to operate under one payroll system and in the case of the Hungarian employees, you just have to add them to the payroll of the parent company. But, different regulations apply for these employees, which can cause some trouble.
Requirements for a Hungarian Payroll
Depending on how you plan to establish your company’s presence in Hungary, there are different requirements for acquiring a Hungarian payroll.
The things that you will need to start the payroll process in Hungary:
- Local tax identification number
- National Tax and Custom Administration registration
- National Health Insurance Fund registration
- Account in a local bank (not compulsory)
- Company Gate (through Client gate)
Payroll Fee: 20 Euro/month/person
FAQ for Payroll Services by Hungarian Payroll Agency