Payroll & Benefits in Hungary

Demanding statutory requirements which are different in every country and constantly altering legislation makes payroll an extremely challenging task, especially in Hungary where deductions for Income tax and social security are done through the Payroll and there are procedures to be followed by the employers for every new hire and exit employee.

This is a tedious task for any company to handle as it consumes a large part of time and resources from the enterprise which can be utilized in other profit developing activities of the business.

Choosing NNRoad will give you the time and resources to focus on other business developing activities as we will provide you with the updated and compliant solutions of the highest standards.

• Registering and de-registering the necessary company and personnel information for payroll calculation in compliance with local rules.
• Registering all local employees with the social security board, if required.
• Calculation of gross salary, salary deductions, such as withholding taxes, social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, etc. if applicable.
• Preparation of income statements for the tax office and the Social security administration.
• Pro-rata calculation for people who join/resign.
• The monthly issue of electronic pay-slips.
• Prepare annual payroll related reconciliation report.