Equatorial Guinea Employer of Record & Payroll
Africa Deployments Equatorial Guinea offers our clients Employer of Record (EOR) services covering all of the regions within. We offer full-time employment or fixed terms contracts based on your requirements in Equatorial Guinea for locals or expatriates. ADS will take care of the work permit under our umbrella and will issue local work contracts to your contractors. We will also advise our client’s on best Human Resource (HR) practices when setting up the employee’s locally in Equatorial Guinea .
ADS takes care of the local tax & PAYE remittances to the Revenue Services on a monthly basis ensuring that they are fully compliant with the law. We will also ensure that their salaries are paid on time monthly and issue them with their pay slips. In addition to our services, we can offer you the employee in Equatorial Guinea , Medical, Disability, Life, and Workmen’s Compensation Insurances. Equatorial Guinea, officially the Republic of Equatorial Guinea, is a country on the west coast of Central Africa
What income is Taxable in Equatorial Guinea:
Any income earned in the form of cash, wages, salary, overtime, leave pay or payment in lieu of leave, commissions, gratuity, bonus, or any amount that has benefited the employee. All income will be taxed in accordance with the law and the final payroll issued monthly.
WHAT TYPE OF LEAVE IS ALLOWED in Equatorial Guinea:
- Public Holiday –10 Public Holidays per annum as per leave law of Equatorial Guinea.
- Annual leave – Employment Contracts of Equatorial Guinea states that the employees receive at least 30 days of paid annual leave, of which 15 days of leave can be taken in consecution.
- Maternity leave – leave be at least 14 weeks of which a period of six weeks compulsory leave should be after childbirth.
CAN YOU GIVE FRINGE BENEFITS in Equatorial Guinea:
Yes you can but keep in mind that Fringe Benefits will be subject to employee PAYE tax. Only benefits that cannot be converted to cash will not be subject to tax. If the employer covers some of the employees expenses i.e. mobile phone then it must be subject to PAYE tax and either the employer will cover this portion for the employee or the employee will bear the PAYE tax.
WHAT ARE THE EMPLOYER & EMPLOYEE CONTRIBUTIONS in Equatorial Guinea:
- Social Security contributions (Employers) -Employers contribute 1% of gross salary to the Work Protection Fund (Fondo de Protección al Trabajo in Spanish) and 21.5% to the National Institute of Social Security (INSESO for its Spanish acronym) monthly.
- Social Security contributions (Employees) Employees contribute 0.5% of net salary to the Work Protection Fund and 4.5% to the INSESO monthly.
IS THERE GRATUITY PAYMENTS FOR TERMINATION in Equatorial Guinea:
Article 83 of Employment Law Equatorial Guinea allows companies to terminate a contract due to valid reasons.
Severance depends on the years of service of the employee.