How Employer of Record Could Boost Your Business – When you employ remote workers or assign employees overseas, most countries will require you to have a local corporate entity to run payroll and comply with all labor and tax laws. Unless you are ready for the time and cost of establishing a branch office or subsidiary in a foreign market, you can consider the option of using an employer of record service company.
Employer of Record Provider
Employer of Record Provider are companies or organizations that are legally responsible for processing and processing employee salary payments, including dealing with employee taxes, benefits, insurance, visa applications, and sponsorship applications and other transactions related to human resources
Companies often employ EOR to reduce all complications and changes related to human resource operations such as: market access, market understanding and market participation, and managing payroll for international employees.
When you use the Employer of Record (EOR) service, they officially become your employees in the company. This invaluable outsourcing service keeps businesses in compliance with labor laws and related fields of regulation and significantly assists companies during internationalization.
In international scenarios, regulations regarding benefits and taxes can vary and are very complex. EOR helps companies penetrate new markets, manage benefits systems more efficiently, and can even sponsor work visas.
Benefits of using Employer of Record Service
1. Cost effective
- You don’t spend time and money on HR. EOR services have years of experience in recruiting, training and managing various staff. They will be able to give you the best choices available in the market, especially if you are looking for candidates from other countries.
- You don’t need to worry about staff training and providing work space. Office, software and hardware costs can all be very small.
- Save salary difference. You will get to make competitive job offers and get the best cost-benefit ratio, while still saving.
- Using EOR services can give you full access to the local job market and at the same time free you from HR and processing tasks.
2. Facilitating international expansion
- You don’t need to register officially to try it. This is a completely legal method of expansion that avoids endless documents.
- You have local expertise to comply with all labor and tax laws.
- You get professional employees and everything needed to run your business.
3. Helps you focus on the core business
Working with EOR Services makes your business much easier to manage. You will get experienced partners who can manage your staff for you well which includes:
- Payroll and health benefits
- Tax compliance
- Health insurance
- Unemployment liabilities
- Office management
4. Tax compliance
Companies often wrestle with foreign payroll regulations and labor laws. Together with the Payrolls Employer of Record manages all aspects of taxes and benefits needed will be implemented properly. As a local company, he has the latest information and daily follow-up. That means you don’t need to spend time and money to learn local law to comply with all labor and tax laws. In addition, you don’t need to worry about compliance at all because you are not responsible for this employee.
Indoservice is a modern service and payroll service provider company, including EOR under our company. If you need to hire an employee, but are not ready for the legal complications that accompany them, our professional staffing and payroll services can help. For more information, contact us immediately for special offers!