EMPLOYER OF RECORD IN BULGARIA
GET IN TOUCH WITH US FOR HR clients requests +359 886 83 71 81
Send us a request for recruitment
Horizons Bulgaria is a licensed company in staff leasing services according to the recent changes in the Labor Code.
If you’re looking to hire employees from Bulgaria without the hassle of opening and maintaining your own entity there, our Employer of Record (EOR) service offers a legal solution. We’ll handle all aspects of the employment process, including compliance with local labor laws and the processing of salary, taxes, benefits, and other required contributions. Our experienced accountant will take care of all necessary payroll documents on a monthly and yearly basis. To use our service, you’ll transfer the funds for salary, taxes, benefits, and other contributions to us in advance of the pay date.Our service is suitable for the expert and management positions.
EMPLOYER OF RECORD FOR YOU BUSINESS
Staff leasing is the process of hiring employees through a third-party company. This works the same as seat leasing where the third party provides the office space complete with equipment and connection needed for their work. Only, they will cover the administrative duties for them.
The company (Professional Employment Organization) and the business owner share employment responsibilities for the staff. Their work duties will come from the employer while the third party will take care of the salaries, benefits, and tax payment, all paid by the employer.
YOUR EOR BENEFITS AS OUR CLIENTS
- Pay to people only when you have enough work
- Use more people when you need extra resources
- Release people when you don’t need their services
- Save the time for accounting and payroll
- Selection and/or approval of the offered employees as another service
- Labor contracts – preparing, registering, concluding, termination
- Remunerations – calculating, preparing, payment, generating relevant documentation
- Regular reporting
- Administration of all processes related to the performance of the employee
WHEN AND FOR WHOM IS EOR APPROPRIATE?
- Foreign companies and NGOs, who are not (yet) registered in the country
- Organizations with little personnel, who do not consider it profitable to hire a person with such functions
- With temporary projects that require additional resources – promotions, marketing research, campaigns, seasonal hiring, temporary hiring, when the risk of laying off that staff is with the employer of record
- Headcount and payroll limitations
- Public companies who wish to reduce the income /cost to the number of personnel ratio
- Reducing administrative load for the HR department
FINANCIAL ASPECTS OF THE SERVICE EOR
- Remunerations, health and social payments, taxes and other payments are handled by the Employer of record also known as a professional employment organization, based on a detailed report to the client
- The employer of record adds a service price on top of the above mentioned elements, the price being calculated according to the number of employees, type of work, the period of using the service
- The total amount for the service could be fixed per person, per group of people, and as a percentage of the remuneration as well. It could also include a guarantee for replacing employees in case of resignation or leaving, for new recruitment and other conditions
THE REASONS WHY EMPLOYERS DECIDED TO DO EOR
- Ease the burden on administrative services. With staff leasing, the Professional Employment Organization can handle the administrative services needed for staff employment, including tax payment, benefits application, etc.
- Hire for maintenance and other services. To focus on the main tasks, employers lease staff to do maintenance work.
PEO IS FLEXIBLE CRISIS SOLUTION
We will hire the people for your business by the employer of record service. We will take care of documents, social payments and institutions – You will pay us the salary, securities and our commission as a single amount.
Save your time for the important business issues and give us a call to learn more about the Staff Leasing service in Bulgaria and how your business can benefit from it!
Read more about Benefits of Staff leasing during a pandemic
Key aspects of an Employer of Record relationship include:
Legal Employment Relationship:
The EOR establishes a legal employment relationship with the workers. This means that the EOR is responsible for adhering to labor laws, managing taxes, and handling employment-related legal matters.
Payroll and Benefits: The EOR manages payroll processing, tax withholding, and benefits administration for the workers. This includes tasks like calculating wages, deducting taxes, and providing access to employee benefits.
Compliance and Regulations: The EOR ensures that all employment-related laws and regulations are followed, including minimum wage laws, labor standards, and workplace safety requirements.
Risk Management: By partnering with an EOR, companies can offload some of the legal and financial risks associated with employment. The EOR takes on the responsibility of compliance, reducing the risk for the client company.
The EOR handles administrative tasks related to employment, such as issuing employment contracts, managing timesheets, and addressing employee inquiries.
Flexibility: An EOR arrangement allows companies to quickly and flexibly hire workers without committing to long-term employment contracts. This is especially useful for projects, seasonal work, or expansion into new markets.
Geographic Expansion: EORs can be particularly helpful for companies looking to hire workers in different regions or countries, as they are well-versed in local labor laws and regulations.
Focus on Core Activities: By outsourcing employment-related tasks to an EOR, companies can focus on their core activities and business objectives without getting bogged down in administrative tasks.
SEND US A REQUEST FOR EOR
BENEFITS OF STAFF LEASING TOPICS
WHAT HR SERVICES WE OFFER
Horizons Bulgaria uses the HR expertise gained over the years to offer professional management of an employer brand.
The executive search assignments are delivered by our high-end consultancy practice for strategic talent recruitment – Horizons Executive Search.
Direct, proactive and confidential approach to high-caliber professionals in completive or relevant organizations.
Deployment on client‘s site of experienced and dedicated recruiter(s) for a temporary or permanent base.
The company offers its expertise in training, organizational development and human resource management.
Horizons Bulgaria specializes in research and selection method of recruitment for middle management and expert level.