What are Employer of Record (EOR) services ?
Employer of Record (EOR) services provide comprehensive solutions for businesses looking to expand into new markets or streamline their global workforce management. Here are some key aspects of EOR services: Legal Compliance: EORs ensure compliance with local labor laws, employment regulations, and tax requirements in the countries where the client operates. They stay updated on changes in legislation, reducing the risk of non-compliance and associated penalties. Payroll and HR Administration: EORs handle payroll processing, including calculating salaries, taxes, and deductions, and ensuring timely and accurate payment to employees. They also manage HR administration tasks such as employee onboarding, contract management, and benefits administration. Tax and Benefits: EORs handle tax-related matters, including withholding and remitting employee taxes, social security contributions, and other statutory deductions. They also manage employee benefits programs, such as health insurance, re...