Recruitment agencies based out of Switzerland or some which have their presence in other countries come under the purview of the Swiss tax legislation and Swiss Payroll Services for Recruitment at Cantonal and Federal levels and Swiss employment Law. The multitudinous roles and functions handled by the recruitment agencies is what that makes their payrolls complicated. Besides, recruitment agencies have to hire temporary staff in addition to their existing work force.
Typically, the payroll functions for recruitment agencies that include-managing the data base of employees and calculation of salaries, preparing pay slips after considering due deductions and costs Swiss Payroll Services for Recruitment. Recruitment agencies have to consider the following factors for effective payroll management:
Pensions and Holidays
Pensions: The very contributions towards pension is due from all Swiss employees those who are working for Swiss companies for more than 3 months. The two very important components here are (i) risk taking elements and (ii) savings done overtime element. While the risk element includes the non-recoverable insurance element in the event of death or disability caused at work, savings element can be recovered in the event where (i) the employee resigns from the Swiss company or (ii) where the employee is in foreign or (iii) uses they use this amount to buy his primary residence.
Retirement Plan: none of the above is applicable, or is availed of by the employee during his tenure; these contributions will be a part of retirement plan.
Holidays: All employees working for Swiss companies are very much entitled toget 20 days of statutory holidays. Besides they are also entitled to get an amount equal to 8.33% of annual pay as “holiday pay” on pay stubs.
Recruitment agencies have to consider by hook or by crook either (i) daily ratesthat are by the number of days worked, or (ii) an hourly rate by the number of hours worked, while in calculating the very “gross monthly salary”. Deductions towards Social security are made from this amount which qualifies as the basis salary. In arriving at the net salary, employer contribution and employee costs are deducted from the basis salary.
ADT is a Management Company that is offering payroll solutions and Swiss Payroll services to recruitment agencies. Our very motive is to provide tax efficient solutions and thereby increasing your net salary.
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