6 Reasons Why EOR Is A Better Option To Manage Remote Teams In India

 


In the era of globalization, when the world is becoming one open market, it is becoming increasingly popular to hire international employees. Knowledge is free for everyone, and skilled candidates are easy to find. India is one of the top outsourcing destinations with a large talent pool of young, talented individuals who are ever enthusiastic to solve rigorous challenges. 

However, it is easier said than done. Companies are actively passionate to achieve new targets and completing new projects. And hiring a remote Indian employee is not that difficult. The only problem you will face is understanding and adhering to Indian labour laws. It will take up considerable time and capital. 

While statutory compliance may not be your cup of tea, there is someone who is an expert in the field. An Employer of Record, or EOR for short, is the most suitable solution for managing remote teams. But what exactly does an EOR do?


What is an Employer of Record?

An EOR is a company that offers outsourcing services and takes care of the administrative and legal issues associated with managing workers remotely. Usually, they give firms a quick and easy way to legally process payrolls of Indian workers without having to establish a new entity in India to comply with all labour laws.

EOR services will handle employment connections, administer government-mandated benefits, and do other HR administrative chores. They will also be responsible for deducting tax, social security, and payroll processing.

Employer of Record, or EOR, services are a more practical choice that provides you with the freedom to select your employees and manage them as you see fit.


#1. You don't need to form a legal entity.

The first step in your expansion to India is to form a legal entity. The registration and approvals for this entity require capital from your side. To top it all, there is a lengthy time-consuming procedure of filling out forms, uploading documents, and downloading certificates. 

You do not want to take the hassle, do you? 

An Employer of Record is a firm that is already registered with the Indian government. They have a legal entity in India that saves you the trouble of forming your own. Therefore, partnering with an EOR will save your establishment costs as you don't need to form it. 


#2. Your data is safe.

You must make sure that employees' personal information is secure because it is of the utmost significance. To prevent data breaches, you must have strong security policies in place.

Payroll processing should have a dedicated server because data security regulations can be broken by any data mix-up. To secure your safety in the future, you must also have business continuity plans and insurance.

All of these security precautions cost money. In the long run, it might be a sizable sum. EORs are the greatest option to address this issue. They have their servers, safety measures, and insurance. With little effort on your part, you can protect the data of your employees from possible hackers.

EORs also have more secure systems. They regularly update their systems with data encryptions and firewalls to protect your employee data. Hackers find it easy to break into your system, but it is more difficult to break into the EOR system.


#3. You have more control over your team.

You have complete control over your team's daily operations, projects, and schedule, providing you with a clearer picture of your team's activities. With a leave management system, you can check their attendance with a simple click. 

You will have more choice and freedom in how you manage your team if you engage with an EOR company. With EOR services, you will work with your team in India as if you were managing a team in your own country. Unlike BPOs, you have complete control over who you recruit, terminate, or promote daily. It is not a whole business process you are outsourcing. But just a payroll processing, onboarding, and exiting system. 


#4. You save time. 

EORs conduct administrative HR tasks on your behalf. If someone else handles all of the monthly paperwork, you can concentrate on building your business and increasing production. You save a considerable amount of time. 

Companies are retraining employees rather than firing them. HR departments are now focusing on getting the most out of their employees. Their role is to provide learning resources for the employee to be more productive.

As a result, an EOR allows your company to focus on these areas while they handle payroll administration. They send out offer letters, joining kits, and ease the migration process.


#5. It doesn't matter if you are an SME or a start-up. 

There is typically no minimum number of staff you must have for working with an EOR company for a predetermined amount of time. EORs make great Indian globalization partners. Any number of your employees, be it 10 or 10,000. An EOR will look after their payroll administration. 

With an EOR, small firms have a 50% lower chance of going out of business and expanding 7-9% more quickly. By partnering with them, you can concentrate on expanding your small business while leaving the administrative work in their capable hands.


#6. You stay compliant with localized payroll. 

Employer duties are included in payroll processing. This is known as the employer burden. Employers are required to deduct provident fund shares, insurance, and income taxes from employees' salaries. The EOR should have enough experience to accomplish all of these processes.

EORs have a team of qualified professionals who stay current on policy changes. They tackle payroll processing and workforce administration systematically. Therefore, you do not need to bother yourself with local amendments and labour law updates. 


The world is witnessing a wave in the business world, and it is high time you catch on. Recruiting top talent has become easier than before, and EORs in India are always ready to provide top-tier services. 


Paysquare- Your Indian Employer of Record

Paysquare provides services related to remote Indian staff's payroll administration with compliance. We use the latest technology to carry out admin tasks. Our superiorly protected systems are a plus point for safe employee transactions. Consult Paysquare for a lifetime globalization partner in India. 

for more details information to visit us - https://paysquare.com/

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