How does a company hire a single employee, a few employees, or even hundreds of employees in a country with no previous operating experience? Profesio Agency has solution for you: EOR – Employer of Record. http://profesio.hr/en/for-companies/
An employer of record is an organization that serves as the employer for tax purposes while the employee performs work at a different company. EOR takes on the responsibility of traditional employment tasks and liabilities which include:
- Processing and funding payroll
- Depositing and filing taxes
- Handling workers’ compensation
- Collecting and processing time sheets
- Creating and maintaining employment contracts
- Employee onboarding (new hire)
- Maintaining certificate of insurance
- Administering benefits
- Terminating employees
- Recruiters and other businesses can free up time. Not having to deal with payroll and HR issues can potentially save time and resources.
- It is a cost-effective way to outsource payroll and HR functions. The business pays EOR a set rate for every hour the employee works and EOR is the one who handles all tasks.
- It is especially helpful when dealing with payroll processing and employment laws for employees in multiple countries. EOR stays updated on the local laws so you don’t have to worry about learning and complying with laws in multiple places.