Employer of record, or “EOR,” is the entity that collects and remits payroll taxes on your company’s behalf. If you employ people but do not use an employer of record service, you are responsible for reporting and paying their taxes. Less paperwork and expenditures, greater fulfill tax obligations, and liability protection are all advantages of using an EOR service provider.
What exactly is Record Service Employer?
An Employer of Record service provider acts as the employer for employees working in a separate nation. The service offers the employee the documentation and assistance needed to work in a foreign country, such as visas, work permits, and Social Security numbers. The Employer of Record service also handles employee payroll and benefits.
There are several reasons why a company may require an Employer of Record service. Firstly, if a company wishes to hire personnel in another country, it will require someone to manage the appropriate paperwork and assistance. Secondly, an Employer of Record service can assist a company in complying with foreign labor laws. Lastly, an Employer of Record service can bring peace of mind to businesses by taking care of all the details involved in recruiting personnel in a foreign country.
Why Choose an Employer of Record Service?
There are several reasons why your firm needs an employer of record service. Here are a few examples:
Most business owners don’t have the time or money to devote to HR duties such as hiring, onboarding, and payroll. An employer of record service may handle all of that for you, allowing you to focus on running your business.
Employers of record services are employment law professionals who will ensure that your company complies with all applicable rules and regulations. This can save you a lot of time (and money) in the long run.
When you collaborate with an employer of record service, you gain access to a team of professionals who can help you with all elements of personnel management. From recruiting to benefits administration, they’ve got you covered.
Why should you use BIPO?
BIPO enables enterprises to join global markets quickly and build core activities without the need to establish foreign employment entities.
BIPO delivers innovative payroll solutions. With BIPO’s cloud-based payroll software, firms can manage global personnel on time and in compliance.
BIPO has the potential to lessen employment risk. BIPO assumes all compliance and legal concerns, allowing customers to focus on their core business and establish abroad markets.
BIPO can offer a competitive benefits package to employees, complying with local and national rules, providing employees with welfare guarantees.
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.