What we consider most important in the provision of payroll services is the correct calculation of remunerations and their timely payment to employees. Only then will staff retain their trust in the employer as the one that is responsible for the calculation and payment of wages.
We have vast experience in servicing companies in all industries and with different organization of labour, with one-, two- and three-shifts of work, with uninterrupted production process, with daily or summary calculation of time clocked, night and extra work, in one or several locations.
We have gained experience over many years in processing and calculation of wages for all labour categories, complex bonus systems and incentives, all kinds of compensations and all types of contracts – employment, civil and management contracts, including set-term, permanent, and seasonal.
We provide professional advice on how to structure the organisation of work and working hours so as to optimise employers' payments in accordance with the requirements of the Labour Code, including by advising on all possible tax reliefs relating to staff remuneration.
When processing wages, we prepare detailed statements, analyses and recommendations on sick leave days and leave used, making possible the adoption of preventive measures in order to reduce costs incurred by sick leave and compensations for unused leave.
We provide assistance in complicated calculations during wage negotiations, regardless of whether wages are agreed net or gross or within a wages budget.
We make a detailed financial analysis of the wage budgets in vertical terms (employees, mid- and senior management) and in horizontal terms (production and structural units) in order to determine the efficiency at each level or unit and take measures to increase labour efficiency and productivity.
We provide advice in instances of anticipated sharp rise or decline in the number of employees, which always entails advance planning and budgeting of the process.
We provide advice on the compilation of job descriptions and in drafting internal labour and wage formation regulations.
Before the beginning of each month, we provide a list of persons with birthdays and professional holiday to pay due respect and regard to them.
We always represent convincingly and professionally our clients before the NRA, the NSSI and the Labour Inspectorate so that our clients can mind their businesses free of concerns.
Overall, the payroll process with us involves:
• assistance in conclusion and termination of all employment, civil and management contracts, including preparation of contracts, agreements, orders, etc.;
• maintenance of employment records of employees;
• current advice on all labour, legal and administrative disputes and issues;
• processing of all the necessary information for calculation of remunerations;
• calculation of remunerations and preparation for their payment;
• payment of remunerations and related taxes and social security contributions, including via our trust account to keep the confidentiality of remunerations from internal accounting or other department;
• direct sending of the pay slips to each employee in order to safeguard payroll confidentiality;
• providing summary information to the accounting unit to account for wage costs – thus the information on individual workers' wages remains with us only;
• storage of payrolls and employment records within the legally prescribed time limits;
• maintaining ongoing communication with the labour medicine office.
We provide 100% compliance with GDPR and the Personal Data Protection Act.
Besides a highly professional payroll team, the Head Office of Kreston BulMar has excellent accountants, lawyers, tax experts, auditors, financial and business consultants who have worked together for years and are extremely effective in finding any business solutions that require simultaneously accounting, tax, financial, legal and business perspectives and expertise.
Georgi Dimitrov joined the Kreston BulMar team in 2003. As of 2009 he is the Managing Partner of the Payroll service department in Kreston BulMar. He has over 800 professional publications and has lectured in over 150 seminars concerning the labour and social security legislation. He has acquired vast payroll experience while working with companies that operate in various fields and with large numbers of employees.
Daniel Slavchev is a student in Accounting at the University of National and World Economy. He successfully completed the Internship Programme in accounting at Kreston BulMar and since 2017 has been part of the Payroll team of Kreston BulMar.
Daniel comes from Pernik and graduated from the local Vocational High School of
- Accounting services
Metodi HristovManaging partner Accounting services
- Financial Audit
Donika MarinovaManaging partner Financial audit
- Legal Services
Slavi MikinskiManaging partner Legal services
- Tax Advisory
Metodi HristovManaging partner Tax advisory
- Business advisory
Emil PopovManaging partner Business advisory
- GDPR Compliance
- Business Valuations
Oleg DimovManaging partner Business valuations
- UK payroll
Svetlana VasilevaUK payroll managing partner
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