In the last few decades, the People's Republic of China has become a center of attraction for foreign investments. It is because of the rapid growth in its economy and expansion of business at a large scale. If a foreign company looks for opportunities to build a team in China and start their business, the below are the two types of global employer services in China that help in examining the market and establishing a core professional team:
b)
Employer of record (EOR)- This is a third-party corporation, and
exclusively hiring agencies that run their day-to-day operations of employment
and recruitment in China itself. They recruit and pay on behalf of other
organizations.
Advantages of choosing the top employer of record firms in China:
I.
Entry into the Chinese market becomes smoother and faster- The
employer of record firms in China recruits the local
Chinese people for the overseas companies. Here, the EOR company plays the role
of a nominal employer and looks after the payroll and other activities.
II.
Acquiescence/ Compliance: EOR makes sure that the partnered
company fully complies within China. It supports dealing with the lawful
regulations, issues related to tax, social security tariffs, withholding taxes,
perpetual business establishment, etc.
III.
Pliability- An EOR provides resolutions considering the level
of the company it stands. Issues related to tax or payroll management, they
have solutions for everything. If the company wishes to recruit people and
control the payroll in China, an EOR can recruit people even if the
organization does not have a Chinese legal body/entity.
The employer of record firms in China provides services like
·
Employee remuneration
·
Payroll management
·
Taxation Services
·
Timesheets or time booking management
·
New Job training
·
Background verification process
·
Termination process or services
So, if
you are also eyeing to set your business wings in China, then you now know
where to approach!
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