One of the first aspects to focus on during an expansion is payroll. When expanding to Honduras, you’ll have to learn a new set of employment compliance laws and customs and also figure out which Honduras payroll option is best for your company. Instead of adding another stressful component to your expansion, let G-P streamline payroll in Honduras.
When you can partner with us, you can rest assured that all employees will be paid accurately and timely.
Taxation rules in Honduras
Both employer and employee must contribute to the IHSS (Instituto Hondureño de Seguridad Social), such contributions support social security programs, including health services and other social benefits for the employee. Employers contribute 10% of all employees’ monthly wages to Honduras’ social security plan and 4% to an unemployment benefits fund. On the other hand, employees must contribute up to 6.5% of their wages.
Individuals living in Honduras for more than 3 months are considered residents and must pay income tax. The withholding by employers is a mechanism to ensure that taxes are collected throughout the year. In some jurisdictions, individuals who only receive income from employment may not be required to file a personal income tax return if their income falls below a certain threshold. Honduras uses a progressive income tax scale ranging from 0% to 25%, depending on the employee’s income.
Honduras payroll options for companies
There are 3 main Honduras payroll options, including:
- Internal: If you plan to operate in Honduras long-term, you may want to run your own payroll out of your subsidiary. Doing so is a good option for larger companies with the budget to hire a full HR team and set up a subsidiary.
- Outsourcing with a local company: You can also choose to work with a local Honduras payroll processing company to outsource your payroll. Keep in mind that you’ll still be held liable for any compliance matters with this solution.
- G-P: The easiest way to run payroll in Honduras and stay compliant is partnering with an Employer of Record (EOR) like G-P. Conosco, você pode ter certeza de que todos os funcionários serão pagos em dia, liberando você para se concentrar em outros aspectos importantes do seu negócio.
How to set up a payroll in Honduras
Tradicionalmente, você deve configurar uma subsidiária de Honduras antes de organizar sua folha de pagamento. Dependendo de onde você incorporar e de qual entidade escolher, pode levar de semanas a meses para que você possa operar em Honduras. Trabalhar com G-P encurtará o processo. As a global Employer of Record (EOR), we’ll help you get started working in a few days, without setting up an entity in the country.
Termos de direito/rescisão
Demitir um funcionário nem sempre é fácil em Honduras. Companies should include certain entitlement and termination terms in an employment contract before choosing a Honduras payroll option. For example, the required notice period of termination ranges from 24 hours to 2 months, depending on how long the employee has worked for you.
Severance payments also range from a minimum of 10 days to 20 days according to the employment time. After 1 year of continuous service, employees are entitled to 1 month’s salary for each year of service, up to a maximum of 25 months’ salary.
Simplifique a gestão global da folha de pagamento com o G-P.
O G-P simplifica cada etapa do processo de gestão da folha de pagamento com a Global Growth Platform™. Pague sua equipe com confiança em qualquer lugar do mundo em moedas com nosso sistema de folha 150 de pagamento automatizado e pontual de 99%, tudo com apenas alguns cliques. Nossos produtos também se integram às principais soluções de HCM, sincronizando automaticamente os dados da folha de pagamento dos funcionários em todas as plataformas para criar uma fonte confiável e conveniente de verdade para as equipes de RH.
Entre em contato conosco para saber mais sobre como podemos apoiá-lo.