In 2020, Monegasque companies will be able, if they wish, to switch to a digital salary slip. This is an additional step towards a Digital Principality, and quite a substantial one, since private sector companies generate nearly 620,000 salary slips each year.

Employers will be able to count on savings in terms of time, space and costs, the amount of a paper salary slip being three times greater than that of a digital one.

The system is flexible, since digitalisation is not compulsory. It is the employer who can choose to switch to the digital salary slip and the employee can oppose it, if they wish. Both also have the option to change their minds later.

The system also protects the rights of the employee. The digital salary slip is, in fact, communicated in a private and secure manner, certified by a stamp or an electronic signature. It contains exactly the same information and has the same retention period as a paper salary slip.

Digital pay slips will be introduced for civil servants and state workers at a later date.

ORIGINAL SOURCE: Monaco Government Press Service ILLUSTRATION: Shutterstock