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Principality introduces electronic payslips

Principality introduces electronic payslips

By Stephanie Horsman - January 7, 2020

As a next step in the digital transition of Monaco, Monegasque companies can now switch to the “dematerialised salary slip” – an electronic version of the standard pay slip.

Private sector companies in Monaco currently generate 620,000 payslips per annum. By changing over to an electronic salary payment system, companies can save paper, ink, space and time, and therefore money, as paper pay stubs cost roughly threefold that of the digital versions.

The digital payslips will include identical information and have the same retention period as paper versions and are touted as being a safe, as well as environmentally-friendly, option. Employee rights are protected, as the slips will be tranferred in a confidential and secure way. The e-salary notices will be certified by a stamp or electronic signature giving them equal legality as the paper ones.

For the time being, the switch to digital is not compulsory. Each company may choose whether they want to go this route, and conversely, each employee may decide to retain the paper option or to go electronic. Both parties are free to revert or change at any time.  

The changeover gives companies a triple bonus of modernity, economy and ecology. By making a New Year’s resolution to change to digital now, the participating companies and employees will be taking leading roles in the inevitable total transition to electronic systems being implemented by the Principality.

As of now, state employees and civil servants do not have the option to switch, though the government has stated this will be forthcoming in a second step in the near future.

Already obtainbalbe under the digital transition are forms and old documents, and more recently online payments for parking and requests for civil status acts have become available.

 

 

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