Employer of record, also known as “EOR,” is the entity that collects and remits payroll taxes on behalf of your business. If you have employees but are not using an employer of record service, then you are responsible for reporting and paying your employees’ taxes. The benefits of having an EOR service provider include less paperwork and costs, more control over tax obligations, and liability protection.
What is Employer of Record Service?
An Employer of Record service company that acts as the employer for employees working in a different country. The service provides the employee with the necessary paperwork and support to work in the foreign country, including visas, work permits, and Social Security numbers. The Employer of Record service also handles payroll and benefits for the employees.
There are many reasons why a business would need an Employer of Record service. First, if a business wants to hire employees in a foreign country, they will need someone to handle the necessary paperwork and support. Second, an Employer of Record service can help a business comply with foreign labor laws. Third, an Employer of Record service can provide peace of mind to businesses by taking care of all the details related to hiring employees in a foreign country.
Why Employer of Record Service?
There are many reasons why your business needs an employer of record service. Here are just a few:
If you’re like most business owners, you don’t have the time or money to spend on HR tasks like recruiting, onboarding, and payroll. An employer of record service can take care of all of that for you so that you can focus on running your business.
Employer of record services are experts in employment law and will make sure that your business is compliant with all relevant laws and regulations. This can save you a lot of hassle (and money) down the road.
When you partner with an employer of record service, you get access to a team of professionals who can help you with all aspects of employee management. From recruiting to benefits administration, they’ve got you covered.
Why choose BIPO?
BIPO helps companies explore overseas markets. BIPO helps companies quickly enter overseas markets and develop core businesses without setting up foreign employment entities.
BIPO provides advanced payroll solutions. Enterprises can manage global employees on time and in compliance with BIPO’s cloud-based payroll platform.
BIPO can reduce employment risk. BIPO assumes all compliance and legal responsibilities, allowing customers to focus on their core business and develop overseas markets.
BIPO can provide employees with a competitive benefits package. BIPO can provide employees with welfare guarantees in line with local national regulations.
Established in 2010 and headquartered in Singapore, BIPO is a global payroll and people solutions provider. Designed for businesses of any size from SMEs to MNCs, our total HR solutions include Human Capital Management solutions, Global Payroll Outsourcing, and Employer of Record service across 150+ global markets.
One-all-one HR global platform with integrated features to manage your business.