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Compensation & Benefits in MmMyanmar.

Population

57,526,449

Languages

1.

Burmese

Country Capital

Naypyidaw

Currency

Kyat (K) (MMK)

Myanmar, informally known as Burma, has compensation and benefits laws like any other country. As an international employer, you’ll need to determine salary requirements and a benefits management plan to succeed in Burma. Without meeting these laws, you run the risk of incurring fines or delaying the incorporation process.

G-P understands the important but also time-consuming nature of sourcing benefits and creating a compensation plan. We offer Myanmar compensation and benefits outsourcing, which means we can add your employees to our payroll and compensation plans. You won’t need to worry about compliance, and you can spend your time growing your company.

Myanmar Compensation Laws

The minimum wage in Myanmar is 4,800 MMK a day, which was recently raised from 3,600 MMK a day in 2018. The Payment of Wages Act requires employers to pay daily and part-time employees with cash, check, or bank transfer according to their fixed-wage period. All permanent employees and other monthly fee earners should get paid monthly at the end of their payment cycle.

Guaranteed Benefits in Myanmar

You’re required to provide certain benefits in your Myanmar benefits management plan according to law. For example, Myanmar celebrates 24 public holidays, which includes 10 days off for the country’s New Year’s celebrations. Employees should get those days off with pay, as well as one day off with pay per week as a vacation entitlement.

If an employee gets sick, they’re allowed 30 days of sick leave for medical treatment as long as they have the right documents. The Leave and Holidays Act of 1951 governs maternity leave. Female employees should get 14 weeks of paid maternity leave — six weeks before the birth and eight weeks after. Those contributing to the Social Security Fund should get additional time off.

Myanmar Benefits Management

When you’re ready to disperse your Myanmar benefits management plan, we recommend providing more benefits than just the statuary requirements. Dispersing market norm or supplemental benefits will show employees that you care about their happiness and their future with your company.

Some common benefits include:

  • Time off for non-Buddhist religious holidays
  • Additional annual paid vacation
  • Education or housing stipend
  • Performance-based or annual bonuses

In Burma, benefits management requires a strategic allocation of resources. You need to find a way to support your employees’ needs without overextending your means.

Restrictions for Benefits and Compensation

Companies expanding to Myanmar often want to start working in the country right away to benefit from a global presence. However, you cannot give out compensation or benefits, or even hire employees, until you set up a subsidiary in the country. This process is often time-consuming, and it can take months to learn Myanmar’s compensation laws, employment regulations, and related laws.

That’s why G-P provides Myanmar compensation and benefits outsourcing services. Instead of spending weeks or months sourcing applicable benefits, you can start working immediately through our existing subsidiary. We’ll allow you to work fast without worrying about compliance, which will help you reap the benefits of your expansion faster.

Choose G-P Today

G-P is a global PEO with subsidiaries around the world. Let us help you with your expansion today by contacting us to learn more about Myanmar benefits and compensation outsourcing.

Disclaimer

THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL OR TAX ADVICE. You should always consult with and rely on your own legal and/or tax advisor(s). G-P does not provide legal or tax advice. The information is general and not tailored to a specific company or workforce and does not reflect G-P’s product delivery in any given jurisdiction. G-P makes no representations or warranties concerning the accuracy, completeness, or timeliness of this information and shall have no liability arising out of or in connection with it, including any loss caused by use of, or reliance on, the information.

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