Booking options
€290 - €690
Course Images
EIMF Certificate in Payroll Management
Dates
View Dates Hide Dates
- Delivered Online• to
- Delivered Online• to
- Delivered Online• to
- Delivered Online• to
- Delivered Online• to
Highlights
Live Online
20 CPD Units | 20 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
The efficient management of the payroll function is crucial for any business with multiple employees. It is an aspect that requires attention to detail and careful observation of the regulatory environment. The integration of the payroll function with the finance and human resource departments further contributes to the operational management of a successful organisation.
This programme offers a comprehensive understanding of the principles of payroll management and effective controls with a strong emphasis on practical application in the working environment. Whether you are seeking to manage these functions within your organisation or to diversify your skillset for career progression, this programme will provide you with the skills and knowledge needed to perform the vital function of payroll management and the effective implementation of controls.
You will find value by formalising and updating your skills and learning the most up-to-date processes and best practices involved in the payroll function.
Participants will develop the following competencies:
Understanding the payroll regulatory and compliance environment
Confidence in managing the payroll department
Skills to identify risk and implement controls
Ability to integrate the payroll division with the HR and Finance Department
Training Objectives
Explain the payroll function and its importance
Explain the proper structure of an efficient and compliant payroll department
Identify the different types of employees
Define the objectives of the payroll team
Explain the importance of developing a proper payroll procedures manual
Identify the key steps in payroll activities
Identify the relevant laws involving in the payroll function
Differentiate between employees and service providers and their relevant treatment
Identify the statutory reports that must be filed with the tax authorities
Identify the internal reports the payroll function must generate for management
Explain the employee’s remuneration and statutory deductions
Identify and explain the benefits in kind
Explain how payroll interacts with the accounting system and the associated record keeping, controls and measurements
Identify and explain the controls that must be in place to safeguard the proper function of the payroll department
Develop a properly structured and compliant payroll department
Implement an efficient payroll procedures manual
Maintain properly the employees’ records
Effectively process the employees’ leave
Comply with all the relevant employment laws and regulations
Properly classify employees, differentiating employees and private contractors based on the common law rule
Track employee time and differentiate between types of employee compensation
Calculate the employees’ gross pay and benefits in kind
Calculate and account for all required employee deductions associated with benefits and all required wage taxes
Generate information and reports for internal and external use
Plan, organize, implement, and monitor work within the payroll environment
Assess the performance of internal and external payroll audits
Integrate the payroll into the HR and finance departments
Mitigate the risk and implement controls
Justify the importance of computing the payroll taxes
Assess the readiness of the organisation to apply the requirements of a compliant payroll department
Recommend solutions to address the changes to the legislation
Adopt a formal policy to be followed when addressing payroll requirements
Justify the importance of the implementation of a compliant payroll department
Justify the need of company to apply the requirements of the payroll laws and regulations
Training Outline
Section I: Establishing a Payroll Department
Payroll environment
Definition
Payroll Importance
Trends
Payroll challenges
Risk, Regulation, and Compliance
Creating a payroll system
The process
Policies and Procedures Manual
Pitfalls
Examples of policies
Examples of procedures
Payroll department staffing
Payroll software
Cost centres
Pay points
Other considerations
Payroll controls
Definition
Internal controls
Department analysis
Risk sources
Risk identification
Control Implementation
Performance assessment
The need for assessment
Key Performance Indicators- KPI's
Metrics for payroll department performance
Other payroll department performance metrics
Organization wide metrics
Preparing payroll
Identify employees
Employee classification
Employee set-up
Employer registration
Declaration of employment
Declaration of taxable earnings
Provident funds
What the law covers
Register of Provident Funds
Rules/Regulations of a Provident Fund
Management Committee
Contributions to the Provident Funds
Benefits
Investments and loans
Section II: Payroll Compliance
Employment Relationship Law
The Protection of Wages Law of 2007
The Minimum Wage
Hours of Employment Law (Cap 182)
Working Time Directive (WTD)
Maternity Leave - Maternity Protection Law
Termination of employment Law
Redundancy Law
The Law of Pensions
Data Protection Directive
Acquired Rights Directive
Other relevant legislations
Section III: Implementing Payroll Activities
Calculating Remuneration
Employee compensation
Interpretation of remuneration
Earnings categories
Overtime
Recording time
Basis of assessment
Benefits in Kind
Scope of application
Presumption for the provision of a benefit in kind
Classification of benefits in kind
Allocation of the benefits in kind
Cash allowances
The obligation to pay the relevant tax
Records
Classification of benefits in kind
Benefits in Kind - Use of Car
– Car benefits
– When does the benefit in kind arise?
– Use of a saloon car belonging to the employer
– Reduction of the private use value of the car (a point-to-point journey)
– Period less than one year
– Reimbursements/use of cars belonging to employees for business purposes
– Commercial cars (van type)
– Multiple car cash allowances
Benefits in Kind – Use of assets, accommodation and relevant costs
– Benefits related to accommodation and use of assets
– Determination of the value
– Renting the property
– Transfer of assets
Benefits in Kind – Other benefits in kind
– In-house property benefit in kind
– External property benefits in kind
– Business Travel
– Private expenses
– Other Benefits
– Exemptions
– Other information
Calculating Statutory Deductions and Contributions
Social insurance contributions and deductions
The social insurance scheme
Benefit and Contribution year
Insurable benefits
Non insurable benefits
Employed persons' contributions
Social Insurance contributions cost for employer
National Healthcare Scheme (GESY)
Summing Up Social Insurance
Liability for payment of contribution
Additional charges
Other deductions
Occupational pensions
Refund of contributions
Record keeping
Inspection of employers
International business
Bilateral agreements
EU social security coordination
PAYE Tax
Imposition of tax
Tax residency
Implementing PAYE
PAYE administration
Exemptions
The 50% exemption
Grandfathering provisions
The 20% exemption
Payroll completion
Not taxable earnings
Deductible expenses
Not - deductible expenses
Personal tax allowance
Tax computation
Completing Payroll Process
Issuing payslips
Employees' payments
Payment of PAYE & contributions
Section IV: Payroll Reporting
Statutory Reports
Claim for allowances for the year (TD59)
Statement of Earnings and Contributions
Statements of monthly deduction (TD61)
Benefits in kind declaration form (TD286)
Employer's return (IR7)
Emoluments certificate for the year (TD63)
Process digitalization
Ergani
SISnet
Internal Reports
Payroll Register
Employee-specific reports
Benefit register
Employees leave report
Other payroll reports
Accounting payroll cost
Recording payroll cost
Employee data
Payroll Audits
Common payroll issues
The process
Benefits
Objectives
Evaluation of the internal control system
Stages in a wages system
Assessing the risk of material fraud
How to conduct an effective payroll audit
Analytics
Payroll data
Minimize/Eliminate Errors
Informed Business Decisions
Planning for Future Growth
Superior Hiring Decisions
Improved Employee Retention
Who should attend
Payroll Administrators who wish to enhance their payroll knowledge and application
Human Resource professionals who wish to gain a better understanding of the payroll system and how it is integrated into the corporate human resource environment
Accountants who wish to diversify their skillset for career progression
Payroll supervisors or managers
Finance officers or managers who oversees the payroll function
Training Style
Illustration of key terms and concepts
Preparation and discussion of practical examples, including mini cases
The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
Activities and Break-out groups
Knowledge Test
At the completion of the knowledge areas, participants will be assessed via the form of Multiple-Choice Questions which will consist of questions related to the material taught. The aim of the assessment is to examine participants' overall attention and knowledge of material taught as well as their competencies towards the implementation of practical cases.
CPD Recognition
This programme may be approved for up to 20 CPD units in Accounting & Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Facilitators
Marios Mortis
Read moreShow less
Marios Mortis holds a Bachelor's degree in Business Administration with a focus on Accounting, as well as a Master's degree in Banking and Finance. He is a qualified member of the Association of Certified Chartered Accountants (ACCA). Marios has accumulated valuable experience working in various positions and companies within Cyprus's accounting, audit, advisory, assurance, and banking sectors. In the past seven years, Marios has embarked on a new and fulfilling career path in the field of education, which he finds both challenging and fascinating. He served as a Visitor Academic at a local university in Cyprus, where he taught several courses, including corporate governance and business ethics, corporate finance, corporate risk management, and audit and assurance. Currently, Marios holds the position of Trainer and Accountancy Programmes Leader at EIMF (European Institute of Management and Finance). In this role, he oversees the management of both professional and academic accounting and finance programmes. Marios has successfully designed and delivered professional training courses covering topics such as corporate reporting, tax, AML (Anti-Money Laundering), funds, forensic accounting, financial analysis, auditing, and financial workshops. Furthermore, Marios is entrusted with leading the Department of Accounting & Finance within EIMF's Academic School. He actively engages in research within the domains of finance and accounting, contributing to both academic and professional endeavors in these fields.
Marina Shiammouti
Read moreShow less
Marina Shiammouti is a Lawyer and member of the Cyprus Bar Association. She currently works as a Senior Lawyer at Andreas I. Karydes & Co L.L.C, handling litigation, corporate, and compliance matters, and at the same time serves as Compliance Officer for Crowdbase Ltd, a CySEC-regulated crowdfunding investment services provider. Her work experience includes the provision of legal services in the areas of banking and finance, compliance with the financial regulatory framework, and general litigation services offered to a mixture of small/medium and larger clients, dealing with their cases regarding loans, bonds, real estate/property issues, and, of course, collections. She holds LLB from the University of Nicosia and a LLM in International Business Law from Cardiff Metropolitan University, and is a HRDA Approved Trainer. Moreover, her professional qualifications include CySEC’s Advance ,AML Certifications and ICPAC AML certifications. She believes that you "always have to stand for the right thing, even if you are standing alone."
Frequently Asked Questions
When will I receive my invoice?
The invoice is issued on the day the course starts.
What payment methods are accepted?
Payments can be made by bank transfer, cheque, or credit card.
When will my certificate be issued?
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
How can I access my certificate?
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Participants, click the three dots located next to your name.
- Select Get Certificate.
Where can I access the course material?
To access the course materials, such as presentations and recordings:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Extra Details, you will find all the available course materials.
What is the HRDA?
The Human Resource Development Authority (HRDA) of Cyprus is a semi-government governmental organisation that supports the development of workforce skills through training and development initiatives. Eligible training programmes approved by the HRDA may qualify for a subsidy, reducing the participation cost for eligible organisations and individuals, subject to the HRDA's terms and conditions.
Who is eligible for the HRDA subsidy?
The HRDA subsidy is available to:
- Companies registered in Cyprus that are applying for their employees.
- Unemployed individuals who meet the eligibility requirements (see the FAQ below for required documents).
- Self-employed individuals registered as self-employed in their ERMIS profile.
To receive the subsidy, eligible persons must attend at least 75% of the course.
What is the process for attending an HRDA-approved course?
To attend an HRDA-approved course, you must:
- Register for the course through the EIMF website.
- Create the necessary ERMIS profile(s).
- Register for the course through ERMIS.
- Complete any additional HRDA requirements if you are applying for the subsidy as an unemployed or self-employed individual.
- Log onto ERMIS and check in through the relevant attendance register when you join the course session and check out when you leave each course session.
See the FAQs below for detailed instructions.
What is ERMIS?
ERMIS is the online platform of the Human Resource Development Authority (HRDA) of Cyprus, used for managing training programme registrations, participant details, subsidy applications, and attendance records. All participants attending HRDA-approved courses must have an ERMIS profile and use the platform’s attendance register to check in and check out during each course session. https://ermis.anad.org.cy/
Is an ERMIS profile required?
Yes. ALL participants attending HRDA-approved courses must have an ERMIS profile, whether applying for the subsidy or not.
- Companies applying for the HRDA subsidy for their employees:
- The company must have an ERMIS profile as a Legal Entity.
- The company must have their Employer role approved on the ERMIS system.
- Each participating employee, as well as a company authorised person and the company’s director, must have an ERMIS profile as a Natural Person
- The employees' and representatives’ profiles must be linked to the company's ERMIS profile.
- All Individuals:
- Must have an ERMIS profile as a Natural Person.
You can create or access your ERMIS profile here: https://ermis.anad.org.cy/
How do I register for an HRDA-approved course through ERMIS?
After booking your course through the EIMF website, you must also register through ERMIS, provided that the required profile(s) have already been created.
- If you are registering as an individual:
You must register through your personal ERMIS profile.
- If a company is applying for the HRDA subsidy for its employees:
- Registration must be completed through the company’s ERMIS profile.
- The company profile used for registration must match the payroll company where each participant is employed.
For example: If your organisation includes multiple companies, make sure each participant is registered under the correct company profile.
Around one week before the course starts (or immediately after booking if you register less than one week before the course), we will email you the HRDA course details and instructions on how to complete your ERMIS registration.
What documents do unemployed individuals need to apply for the HRDA subsidy?
When registering for the course through ERMIS, you must upload both of the following documents obtained from the Public Employment Service:
- A referral for participation in HRDA Multicompany courses (Παραπεμπτικό για Πολυεπιχειρησιακά Προγράμματα της ΑνΑΔ).
- An ES19 form confirming that you were unemployed from at least the course start date.
What do self-employed individuals need to do to apply for the HRDA subsidy?
You must update your ERMIS profile:
- Log in to your ERMIS profile and select the Self-employed role from the available roles.
- Complete and submit the request.
- Once your request has been approved, you can register for courses and apply for the HRDA subsidy as a self-employed individual.
When submitting your request, you must upload one of the following:
- A confirmation letter from the Social Insurance Services confirming acceptance of your registration as a self-employed person.
- A Confirmation letter from the Social Insurance Services confirming your self-employed status.
- Proof of payment of Social Insurance contributions for the most recent quarter (available through SISnet).
Is the check-in and check-out process in ERMIS mandatory?
Yes. All participants must log onto the ERMIS system and check onto the attendance register when they join a course session and check out when they leave a course session, as HRDA records attendance.
To receive the subsidy, eligible persons must attend at least 75% of the course. Check-ins and check-outs reflect actual attendance.