Employer of Record (EOR) Services in Bangladesh: Grow Your Business Quickly

Employer of Record is used to get over regulatory and expense barriers when hiring labor in remote locations. For non-resident firms doing business, each country (and some states or regions) has its own employment, payroll, and work permit rules. The difficulty of adhering to those standards can be a significant barrier to cross-border corporate expansion

Employees are the lifeblood of any organization, yet finding employees to work where you need them can be difficult. Each country has its own set of norms and rules. Employment compliance necessitates a well-functioning Human Resources infrastructure as well as a thorough understanding of the local employment, legal, and tax landscapes. All of this and more is available through P2B’s Employer of Record (EOR) services. Elements go in and out of each other. Onboarding, supervising, and paying staff are all aspects of in-country administration and compliance that Elements navigates. This allows our clients to concentrate on their long-term business goals and progress.

Employer of Record (EOR) Services in Bangladesh

Our Employer Of Record Services Include:

Overseas HR Administration

Bangladesh possesses a strong culture where the employer is considered patriarchal; a good employer ‘takes care of its employees. Additionally, it’s an extremely kind and warm culture. Listening to the intention behind the words and recognize the subtleties, including when recruiting employees in Dhaka, to build a positive and comfortable work environment. Outsourcing companies should keep in mind that while costs and salaries are lower in certain countries and the flexibility of the environments vary.

Our HR Administration work while keeping all these aspects in mind and manages all the features of international HR including employee associations, development and implementation of policies and systems, recruiting support, country-specific handbooks as well as HR responsibilities in the office start-up, maintenance and shut down. Additionally, Payroll2Bangladesh will work with Business Development and Program Teams to lead recruitment and maintain the program of international experts for schemes and plans.

Streamlined EOR Service

When companies approach the recruiting process by themselves, the first step is setting up a local entity via incorporation and registration. This of course can be time-consuming and costly, requiring skilled legal and accounting support to secure compliance. An EOR lets you hire without a local entity and stay fully compliant. We provide payroll, benefits, and workforce management through our network of in-country partners including development, delivery and coordination of human resource services and manage the implementation of human resource programs. We are the One provider with a one-stop resolution. Dodge the need for complicated contracts with extra third-party providers. Establishing a company in a new country is an expensive and time-consuming method that can require multiple vendors. It distracts businesses from their essence focus. We can protect your business’ valuable time and trim your expenses by as much as 87.5% by Dramatically cutting the time to get established in new countries in as short as a few weeks.

Benefits You Get From Our Employer Of Record Services:

Employer of Record Services (PEO)

The Labour and Employment Laws within Bangladesh imposes ‘Records Retention’ as a part and parcel of Statutory Compliance. It is a mandate on the employer to ensure that certain registers, records, and employee data are maintained for a specified number of years either in original or electronic form or the copies as led by the respective laws and edicts laid thereunder. This allows the supervisory authorities to scrutinize/inspect the documents and failure to preserve such reports and documents may draw penal provisions under the corresponding Acts.

The difficulty is that our Labour Laws are colossal, and organizations find it quite intricate due to the lack of a handbook or reckoner on the idea of ‘data retention period’.

And Payroll2Bangladesh is such a Team that is attempting to simplify the employers’ life keeping in mind the regulations.

Professional Employer Organization (PEO)

  1. Salary & Payroll Processing
  2. Staff Income Calculation
  3. Give PND 1 form to income tax
  4. Manage travelling accounts for employees (Social Insurance)
  5. Secures payroll disbursement
  6. Manages local and global payroll
  7. Inform social insurance for employment end contract or termination.
  8. Fulfills HR requirements including the needed resources, technology and expertise to best support your operations.
  9. Recommendation on contract terms
  10. Review of reports to employees
  11. Wages Report

Employer of Record (EOR)

In order to hire a local or a foreign employee requires knowledge of Bangladeshi laws as well as confidence that you are advancing according to all government regulations. That includes a variety of things such as minimum wage, employer’s duties, payroll, taxation, social allowance or work permit application etc. 

Another hindrance is the fact that foreign corporations cannot hire employees directly. One of the choices for a Non-Bangladeshi company is to begin a local subsidiary. The other choice is to rely on mediators.

Starting a subsidiary involves having the additional time and financial investment for establishing an entity and to run operations. And having an efficient model of outsourcing services is the most suitable way to save costs and time and with our help, you can outsource in more than one way in Dhaka, Bangladesh. Summing it up:

  1. Assures that workers have a lawful right to work in the country in which they are located. Arranging all visas and work permits for the employee, avoiding delays or refusals.
  2. The employer of record also hires your selected candidates.
  3. Provides a designated entity for running a local, compliant payroll within the country.
  4. Regulates for and provides employee benefits such as health insurance and pension additions.
  5. Meets all host country labour laws about local contracts and worker protections.
  6. Notifies the client of necessary notice periods, termination laws and severance pay.
  7. Hires hire staff on your behalf so you don’t have to worry about your company registration and application for use of foreign labour.
  8. It’s a simplistic and comfortable way to build your remote team in Bangladesh.

HR OUTSOURCING

We are taking pride in being an experienced and competent Employer of Record provider. Our experienced HR and Payroll team can also provide consultation on various situations that happen related to employees in order to contribute to your company’s success.

Among others, our human resource outsourcing services consist of:

  1. Establishing human resource policies
  2. Labour contract arrangement
  3. Payroll, tax and compulsory insurance management with calculation and processing
  4. Labour law consultancy and advisement
  5. Work visa for foreigners under our sponsorship

FAQ For Employer of Record (EOR)

On behalf of our clients, we may hire foreign labor in over 100 countries. This means that you can lawfully employ local people in nations where your company does not have a legal organization. Our clients are not required to establish a local entity. One of the primary advantages of our EOR service delivery mode is this.

Yes, without a doubt! Since 2005, International Staffing Consultants, Inc. has made it a priority to staff jobs in other countries. We feel there is no other firm in the Bangladesh with the experience and global reach to discover candidates. Fees for recruiting are separate from those for EOR services, and we’d be pleased to talk about them with you.

We do not provide standard expatriate assignment support services, however in some cases, we can engage non-residents from other countries (outside the Bangladesh). This service may also include immigration services, such as sponsoring visas or work permit applications for workers who wish to work legally in another nation.

The customer directs and manages the worker’s day-to-day actions, just as they would any other employee in their organization. Our organization handles the relationship’s administrative employment components, such as statutory requirements and payroll.

Our service agreements aren’t for a set period of time, and we hire people on a frequent basis for brief periods of time. Some clients merely need a temporary solution while they finish registering their legal entity or assess the sustainability of a market. In other circumstances, our customers have no immediate or long-term desire to form a local entity. We don’t have a time limit in place. We have everything we need to service our clients for as long as they need us.

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Employer of Record is used to get over regulatory and expense barriers when hiring labor in remote locations.