Automatic labor advance becomes available
MagNet Faktor in partnership with Kulcs-Soft provides a new service called Automatic Labor Advance System (AMBER). With the help of the new solution, employees of companies that use payroll software can quickly and easily get their salary for the working days they have already worked. In addition to employees, this opportunity is also favorable for businesses: their administrative burdens are reduced, and salary payments become flexible.
AMBER makes it possible for employees to receive their wages interest- and tax-free, even weekly or more often, according to their individual needs. This makes it easier for many employees to cover unexpected expenses or to maintain control over day-to-day planning. The service is interest- and tax-free for employees, easy to understand, and transparent for employers. Employees always only have access to their already earned salary, so they do not go into debt, and the system can also prevent possible overspending.
The fact that the system calculates the amount of money that can be withdrawn completely automatically and in proportion to time, which can even be further controlled, means significant administrative ease for businesses. All of this is available online, that is, at any time from smart devices, and enables real-time transfers.
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