Your Bulgaria subsidiary is only as strong as the employees who help build it. You can hire the best employees by offering outstanding compensation and benefits that set your company above the competition.
But first, you have to meet the country’s compensation laws and create a strong Bulgaria benefits management plan that provides statutory benefits and more.
Bulgaria compensation laws
The Council of Ministers sets the minimum wage, so employers should watch for any changes to the law while operating in Bulgaria.
Overtime can be performed in accordance with the Labour Code and once agreed upon by both parties. Employees should get 50% for weekdays, 75% for holidays, and 100% for public holidays.
Guaranteed benefits in Bulgaria
The first step to creating a Bulgaria benefits management plan is including statutory benefits required by law. All employees get the day off on Bulgaria’s public holidays along with a minimum of 20 business days of vacation each year. If employees don’t use their annual leave in one year, they must get compensated for any unused leave up to 2 years from the date they were granted the entitlement.
Bulgaria offers pregnant employees a generous paid maternity leave of up to 410 days. However, 45 of those days must be taken before giving birth. Employees receive indemnity payments from the National Social Security Fund, which amounts to 90% of the employee’s gross salary. Fathers are entitled to 15 days of paid paternity leave after the birth of a child.
Bulgaria benefits management
You can attract even more employees to your job openings by adding sought-after fringe perks to your Bulgaria benefits management plan. For example, a 13th-month bonus is not required by local law, but it’s considered a gratuity that some employees may expect.
If you do not want to source a private health insurance plan, you can give employees a stipend to find their own plan.
Restrictions for benefits and compensation
Companies that expand without the help of a global Employer of Record must set up a subsidiary in Bulgaria before providing compensation and benefits.
If you work with an Employer of Record (EOR) like G-P, you won’t have to take the time to set up a subsidiary. With us, you can begin hiring in minutes without the stress of compliance.
Partner with G-P to build your everywhere workforce.
As your partner in global expansion, G-P will handle payroll and compliance, so you can focus on growing your team and scaling your business. Our market-leading global employment platform is powered by the first fully customizable suite of global employment products and backed by the industry’s largest team of in-country HR and legal experts to streamline payroll management and help you offer competitive, compliant local benefits.
Learn more about our platform and request a proposal today.