CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	12. Employee Benefit PlanS The Company has a qualified 401(k) plan covering all U.S. employees who have completed three months of service. The plan provides for matching contributions by the Company equal to 100% of the first 3% of the qualified compensation, plus 50% of the next 2%. Employer contributions to the plan for nine months ended September 30, 2016 and 2015 were $68,519 and $69,937, respectively, and $19,940 and $21,577 for the three months ended September 30, 2016 and 2015, respectively. Additionally, the Company has a defined contribution retirement plan covering all employees located in Pakistan who have completed 90 days of service. The plan provides for monthly contributions by the Company which are the lower of 10% of qualified employees’ basic monthly compensation or 750 Pakistani rupees. The Company’s contributions for the nine months ended September 30, 2016 and 2015 were $90,687 and $115,201, respectively, and $29,938 and $37,114 for the three months ended September 30, 2016 and 2015, respectively.

Employee Benefit Plans

9 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

12. Employee Benefit PlanS

The Company has a qualified 401(k) plan covering all U.S. employees who have completed three months of service. The plan provides for matching contributions by the Company equal to 100% of the first 3% of the qualified compensation, plus 50% of the next 2%. Employer contributions to the plan for nine months ended September 30, 2016 and 2015 were $68,519 and $69,937, respectively, and $19,940 and $21,577 for the three months ended September 30, 2016 and 2015, respectively.

Additionally, the Company has a defined contribution retirement plan covering all employees located in Pakistan who have completed 90 days of service. The plan provides for monthly contributions by the Company which are the lower of 10% of qualified employees’ basic monthly compensation or 750 Pakistani rupees. The Company’s contributions for the nine months ended September 30, 2016 and 2015 were $90,687 and $115,201, respectively, and $29,938 and $37,114 for the three months ended September 30, 2016 and 2015, respectively.