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Payroll calculation and disbursement is one of the most critical and sensitive processes in any company. It requires not only impeccable accuracy in calculations but also strict adherence to the labor and tax laws of the Republic of Moldova. Errors in this process can lead to significant financial losses, fines from regulatory bodies, and a decrease in employee morale and motivation. Our company offers professional services for the full cycle of payroll calculation and disbursement, guaranteeing accuracy, confidentiality, and full compliance with all regulatory requirements.
Why Accurate Payroll is Critically Important
Flawless management of this process ensures:
- Legal Compliance: Full adherence to the requirements of the Labor and Tax Codes of the Republic of Moldova, as well as the regulations of social funds, which helps you avoid fines and penalties.
- Financial Transparency: Accurate reflection of personnel costs in accounting, which is the basis for budgeting, financial analysis, and management decisions.
- Employee Trust and Loyalty: Timely and correct payment of all due amounts increases staff satisfaction, loyalty, and motivation.
- Risk Minimization: Prevention of errors that could lead to labor disputes, lawsuits, or problems during inspections.
- Efficient Resource Utilization: Freeing up your company’s internal resources from routine yet critical tasks.
Our Payroll Calculation and Disbursement Services
We offer a comprehensive approach that covers all stages of the payroll process.
Monthly Payroll Calculation
- Calculation of All Types of Accruals: Accurate calculation of base salary, bonuses, premiums, allowances, extra pay, compensation for unused leave, severance payments, and other types of payments in accordance with labor contracts, internal policies, and Moldovan law.
- Calculation of Sick Pay and Vacation Pay: Correct accrual of temporary disability benefits (sick pay) and vacation payments, considering all legal nuances.
- Working Time Tracking: Processing of time sheets and monitoring of compliance with work and rest schedules.
Calculation and Management of Deductions
- Calculation of Mandatory Deductions: Accurate calculation of individual income tax, mandatory state social insurance contributions (both individual and employer), and mandatory health insurance contributions (both individual and employer).
- Calculation of Other Deductions: Accounting for and calculating other deductions stipulated by law or internal documents (e.g., alimony, union dues, damage compensation).
Preparation of Payroll Documents
- Preparation of Payroll Statements: Creation of detailed and easy-to-understand payroll statements for each employee, showing all accruals and deductions.
- Preparation of Payment Orders: Creation of payment orders for transferring salaries to employee bank accounts and paying all taxes and contributions to the budget and funds.
Payroll Disbursement
- Disbursement Process Support: Monitoring the timely transfer of salaries to employees’ bank cards or preparing documents for cash payments.
Preparation and Submission of Reports
- Tax Reporting: Timely preparation and submission of all necessary tax returns and reports related to the payroll fund to the State Tax Service.
- Reporting to Funds: Preparation and submission of reports to the National Social Insurance Fund and the National Health Insurance Company.
- Statistical Reporting: Preparation and submission of statistical reports on labor to the National Bureau of Statistics.
Consultations and Support
- Expert Advice: Providing up-to-date consultations on all issues related to payroll calculation and disbursement, taxation, and labor law.
- Representation during Inspections: Preparation and support during inspections by state bodies (Tax Service, Labor Inspectorate, social funds).
Why Choose Us?
Our specialists have deep knowledge and many years of experience in payroll calculation and taxation in the Republic of Moldova. We guarantee accuracy, confidentiality, and strict adherence to all deadlines, which is critically important in this field. By choosing us, you get a reliable partner who will ensure flawless management of all payroll-related processes, allowing you to focus on the development of your core business without worrying about financial and legal risks.