PSM, Madeinmada, process and pay the FUNHECE - for the account of employees and employers in Madagascar
FUNHECE - Funds Health Center , as an “Inter-Company Medical Service” it advocates the value of taking care of its patients for a better quality of medical service. The main advantage of Funhece is its national coverage. Funhece has representation in several cities and district capitals of Madagascar and establishes partnerships with CSBs (Basic Health Centers) for remote municipalities.
FUNHECE is governed by decree n°2003-1162 of December 17, 2003 organizing Corporate Medicine.
FUNHECE offers its affiliates and their families a complete range of care, covering all areas of health and safety at work to support them in all moments of their lives.
Contributions to the FUNHECE for employees and their family health coverage are as below :
- Employer's share : 5%
- Employee's share : 1%
Applied on the gross payroll, capped*.
*Capped : The above percentage is applied on the gross salary BUT for higher salaries, the calculation base of contributions is limited to and capped at 8 times the minimum wage. (@ this time 8 x 262 680 Ar = 2 101 440 Ar)
Contributions are payable Monthly and the declaration is made on a model form named DNS (Déclaration Nominative de Salaires) and can be printed or sent by email.
Want to know more about Funhece ? go to their website : https://www.funreco.mg
Here below the list of other intitutions offering the "Service Médical Inter Entreprise" or OSIE (Organisation Sanitaire Interentreprises) :
- OSTIE : Organisation Sanitaire Tananarivienne Inter Entreprises
- AMIT : Association Médicale Interentreprises de Tananarive
- ESIA : Espace Sanitaire Interentreprises d'Antananarivo
- SMIA : Service Médicale Inter Entreprises Antsirabe
- and many more
Services
The team aims to ensure 100% compliance with local laws and legislations and keep each and every partner updated for any changes. Our Services listed below are real Solutions to companies and ngos for their mid or long term projects in Madagascar
Payroll Services Madagascar
Process Payroll Calculations, payroll tax statements, Monthly, Quarterely, Yearly taxes, Employee and Employer contributions, handling of deposits and withdrawals for your employees, Expenses reimbursment, Insurance handling, reporting
Employer of Record (EOR)
PSM is the legal employer of your workers and handle all aspects of compliance from the onboarding to the termination. Handling the employment contract. Processing payroll. Filing employer social contributions. Filing employee taxes
Professional Employer Organization (PEO)
As a co-employer PSM provides real engagement for your business. Our PEO services will allow you to outsource important HR functions. We take some important responsibilities and add real value to your business and activities in order to enhance your bottom line
Employee and Contractor Recruitment
Short-term, mid-term, long-term assignment? Hire an employee or a contractor? Let us help you with quicker hiring and onboarding. We source, we screen, we interview. We handle the short-listing process and you decide the right people for your organization
Payroll Elements
Get to know more about payroll componemts and labour code in Madagascar...
IRSA - Tax on Salary - Income Tax
Impôt sur le Revenu Salarial, withhold and paid by the employer
CNAPS - Caisse Nationale de Prévoyance Sociale
Family benefits, Work accidents and occupational diseases, Retirement
FMFP - Training Contributions
Fonds Malgache de Formation Professionnelle
OSTIE - Employee Health Coverage
Organisation Sanitaire Inter-entreprise d'Antananarivo
FUNHECE - Service Médical Inter Entreprise
Employee Health Coverage, Funds Health Center, FUNRECO Group
Exchange rates - Banky Foibe (Central Bank)
Currency daily Exchange Rates - EUR/USD/GBP to MGA Salary payment
Monthly Payslip delivery to employees -
Signed proof of salary payment - Payment note
Employee Health Insurance Coverage
Employee benefits - Health coverage for employees and families
Expenses Reimbursment - Overheads Management
Employees prepaid expenses coverred by the company
Compensation and Severance Payment
because of a layoff, dismissal or retirement
Madagascar Holidays 2024
12 days of holidays
Entrust us with a mission
We do it simple, friendly and smart! the way we build long-term win-win partnership with you
Frequently Asked Questions
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What is the minimum salary in Madagascar?
Applicable from March 1, 2024, the minimum salary in Madagascar is 262,680 MGA per month
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What is the payroll frequency in Madagascar?
For workers/employees on monthly basis, the payroll is once a month with optional mid-month advance
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In which currency the salaries and wages are paid in Madagascar?
Salaries and wages should be paid in Ariary (MGA - Malagasy Ariary) and to a local bank account
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What is the tax rate applicable in Madagascar for the salary income?
For the installment above 600,000 Ar, the tax rate is 20%. For installment 500,000 Ar - 600,000 Ar, 15%. For the installment 400,000 Ar - 500,000 Ar, 10%. For the installment 350,000 Ar - 400,000 Ar, 5%. For the installment 0 Ar - 350,000 Ar, 0%.
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What are the social contributions in Madagascar?
for the calculation of social charges, the salary is capped at 8 times the minimum salary
CNAPS retirement: salary share: 1% of gross salary - employer's share: 13% of gross salary
OSTIE Health: salary share: 1% of gross salary - employer's share: 5% of gross salary
FMFP professional training: salary share: 0% of gross salary - employer's share: 1% of gross salary -
What are common employees advantage in Madagascar ?
Companies offer mainly health insurance to the employee and his family members and 13th month salary
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What are the basic holidays in Madagascar?
01 January - New Year's Day, 29 March - Martyrs' Day, Easter Monday, Eid al-Fitr, 01 May - Labour Day, Ascension Day, Whit Monday, 26 June - Independence Day, Eid al-Adha, 15 August - Assumption of Mary, 01 November - All Saints' Day, 25 December - Christmas Day. (12 days)