Velocity Global

APRIL 11, 2023

The employer offers location-specific wages based on factors like local market rates and cost of living. In either approach, employers must always account for local minimum wage laws when paying international employees to avoid fines, litigation, and other noncompliance penalties. Requirements vary per country or state worldwide.

Payroll 52

Payroll Insurance Administrative Right-Sizing 52

Velocity Global

MARCH 24, 2023

Compliance is critical to managing global payroll for international employees—especially because payroll regulations vary worldwide. Fortunately, maintaining global payroll compliance doesn’t have to be complicated with the right solution. What Is Payroll Compliance? What Is Global Payroll?

Payroll 52

Payroll Regulations Administrative Outsourcing 52

Paysquare

JULY 4, 2023

Payroll is a difficult process that is made more difficult by the particular procedures used by each organization, compliance concerns, a wide range of allowances and deductions, and continually evolving legal requirements. Avoiding compliance risks and adjusting to the laws’ ever-changing requirements are the objectives.

Payroll 52

Payroll Outsourcing Regulations Government 52

Velocity Global

APRIL 28, 2023

However, conducting business across borders has several logistical challenges and compliance risks. Plus, find out how to simplify global expansion and eliminate compliance risks along the way. International Tax Liabilities Global companies must comply with the local tax laws of each country in which they do business.

Payroll 97

Payroll Regulations Marketing Reduced Costs 97

Velocity Global

MAY 23, 2023

International PEO (professional employer organization) is a global employment solution that enables companies to hire supported employees anywhere in the world quickly, compliantly, and without the burden of establishing a foreign legal entity. Avoid compliance risks by protecting your company, intellectual property, and supported employees.

Payroll 97

Payroll Administrative Right-Sizing Marketing 97

Velocity Global

FEBRUARY 20, 2023

For example, the statutory pension tax in Quebec in 2023 is 12.8% Statutory Benefits Statutory benefits vary between countries and states and can make up a significant portion of true employee costs. Other statutory benefits may include medical insurance, worker’s compensation, and a pension fund. Compliance.

Payroll 97

Payroll Insurance Right-Sizing Administrative 97

Velocity Global

JUNE 28, 2022

An essential part of running a successful business abroad is maintaining compliance with local labor laws and other employee protections. For companies expanding internationally, failing to adhere to local labor regulations may result in fines, tax penalties, and other legal issues that hinder business and productivity.

Payroll 75

Payroll Regulations Global Hiring Research 75

Velocity Global

DECEMBER 7, 2022

In this guide, we cover local labor laws and the two methods for hiring employees in Italy. One route to hiring employees in Italy is to set up a local entity. However, employers who choose this method must ensure compliance with Italian labor laws each step of the way–on their own. This means: Correctly classifying employees.

Payroll 98

Payroll Regulations Administrative Out-Tasking 98

Velocity Global

DECEMBER 22, 2022

Employees are entitled to statutory benefits, such as health insurance, pension, and paid time off. Employers are liable for paying back national, state, and local taxes. Despite the severity of misclassification risks, compliance is possible with due diligence. Benefits and Taxation. Back benefits. Legal fines.

Payroll 98

Payroll Insurance Regulations Jobbing 98

Velocity Global

MAY 15, 2023

Several countries even entitle local employees to fully paid maternity leave while others entitle partial payment—but some countries don’t mandate paid maternity leave at all. Today, 90 out of 187 countries offer statutory paid paternity leave. Attract and Retain Top Talent Today, talent desires more than essential statutory benefits.

Payroll 52

Payroll Sourcing Administrative Regulations 52

Velocity Global

OCTOBER 25, 2022

Statutory benefits vary from country to country. The following guide walks you through what statutory benefits are and the different types of mandatory benefits around the world. Statutory Benefits Meaning. Statutory Benefits Meaning. Statutory benefits are employee benefits required by law. Housing Fund.

Insurance 52

Insurance Regulations Jobbing Government 52

Paysquare

JANUARY 21, 2024

When an organization has a diverse workforce, it is also significant that they ensure payroll compliance to continue their overseas operations smoothly. All businesses are required to observe taxes, labor laws, and other relevant elements in payroll compliance. These laws cover several issues – big and small.

Pharmaceuticals 40

Pharmaceuticals Payroll Regulations Outsourcing 40

Velocity Global

MAY 19, 2023

To gain a competitive edge in foreign markets and ensure seamless growth, companies must comply with local labor laws and consider cultural norms in every market where they hire talent. What can the local talent pool offer for specific roles you need to fill? Are there local professional networks that you can use to source talent?

Right-Sizing 52

Right-Sizing Human Resources Payroll Administrative 52

Mercans

JANUARY 24, 2024

This industry-disruptive global payroll solution, not only fortifyies our payroll technology leadership, but also puts an end to major global payroll challenges, from data privacy compliance to processing latency and more.

Payroll 52

Payroll Engineering Right-Sizing Out-Tasking 52

Velocity Global

NOVEMBER 9, 2022

Employers offer fringe benefits in addition to statutory benefits to create a comprehensive and competitive benefits package. Statutory Benefits vs. Fringe Benefits. Statutory benefits are required benefits an employer must provide to their employees. Example: Statutory vs Fringe Benefits in Canada. Let’s take a U.S.-based

Insurance 52

Insurance Jobbing Flexibility Accounting 52

Velocity Global

AUGUST 2, 2022

The following solutions will help you stay compliant : Set Up a Local Entity in the UK. Having an entity in the UK gives your company full autonomy to establish a local branch and hire local employees. Compliance Risks When Hiring Workers in the UK. Withholding Statutory Benefits.

Payroll 59

Payroll Insurance Healthcare Regulations 59

Velocity Global

MAY 22, 2023

There is one thing they all have in common—an efficient, cost-effective way to onboard and manage their global talent while staying 100% compliant with local and international labor laws. More than 50 global retail brands manage their storefront and sales presence in numerous regions with Velocity Global’s EOR solution.

Regulations 52

Regulations Payroll Manufacturing Administrative 52

Velocity Global

OCTOBER 25, 2022

Reason 1: Local Labor Jurisdictions Require Global Employee Benefits. Every country mandates that employers offer certain benefits, known as statutory benefits, to their employees. Failing to meet statutory benefits requirements subjects employers to: Fines. We’ll go into more detail about statutory requirements later.

Insurance 52

Insurance Healthcare Jobbing Government 52

Velocity Global

NOVEMBER 23, 2022

Read this guide to understand mandatory and supplemental employee benefits in Canada and learn what you should offer to ensure compliance and keep your talent happy. Mandatory benefits, also known as statutory benefits, are required by Canadian law. Statutory employee benefits in Canada include: Provincial healthcare coverage.

Insurance 52

Insurance Healthcare Payroll Regulations 52

Velocity Global

MARCH 13, 2023

Companies must navigate obstacles such as paying talent in different currencies to protect sensitive employee data and adhering to evolving compliance requirements. Read this guide to learn six common global payroll challenges companies face when paying international teams and suggested solutions for overcoming them.

Payroll 52

Payroll Right-Sizing Regulations Finance 52

Velocity Global

MAY 10, 2023

However, foreign employers interested in engaging the local talent pool must have a firm grasp of France’s labor laws, which include administering mandatory benefits. Companies must go beyond statutory benefits and provide supplemental rewards that fill gaps where mandatory benefits lack and help your French talent feel valued.

Insurance 52

Insurance Healthcare Payroll Government 52

Velocity Global

JULY 28, 2022

A global employer of record allows companies to legally engage with employees across international borders without having to set up a local entity or risk violating local country or state employment laws. Some of the services that a global EoR provides: Drafts and maintains locally compliant employment contracts.

Payroll 59

Payroll Out-Tasking Regulations Human Resources 59

Velocity Global

FEBRUARY 24, 2023

However, companies interested in engaging German employees must also adhere to the country’s local labor laws, which include providing mandatory benefits. Mandatory Employee Benefits in Germany German employment law requires employers to provide several statutory benefits to employees in Germany.

Insurance 52

Insurance Government Human Resources Marketing 52

Velocity Global

MAY 8, 2023

Today, several countries across Latin America, Europe, and Asia require that local employees receive 13th-month payments from their employers. Conversely, 13th-month pay is a statutory benefit in many countries, which means employers must offer it to certain employees regardless of their job performance or tenure.

Payroll 98

Payroll Regulations Marketing Human Resources 98

Paysquare

APRIL 30, 2023

The advantage of outsourcing to a pyroll partner is that the businesses can focus on core operations while the partner focuses on payroll processing, generating necessary documents, deducting taxes and taking care of the requiresd MIS , and ensuring compliance with local and central labor laws.

Payroll 52

Payroll Outsourcing Right-Sizing Labor Costs 52

Velocity Global

APRIL 21, 2023

However, facilitating global workforce mobility involves navigating complex immigration, employment, and tax laws across multiple jurisdictions—all of which pose significant compliance risks. It addresses the logistical issues of relocation, such as immigration, compliance, HR support, global compensation, and ensuring overall continuity.

Payroll 52

Payroll Finance Flexibility Sourcing 52

Neeyamo

JUNE 17, 2022

With the increased business opportunities in the Philippines, there is a lot of responsibility in managing and maintaining a business compliant with local labor laws. Managing payroll, which involves accurately calculating the employee’s salary and statutory benefits, is one of the essential skills when beginning a firm.

Payroll 52

Payroll Robotics Process Automation Outsourcing Offshoring 52

Velocity Global

FEBRUARY 17, 2023

gives you a physical presence in the country and the autonomy to hire employees and run payroll in compliance with local labor laws. While entity establishment gives you full autonomy to hire and manage talent directly, it requires extensive in-country knowledge of the local employment and tax regulations.

Payroll 52

Payroll Insurance Regulations Jobbing 52

SirionLabs

SEPTEMBER 20, 2021

What is a Contract Compliance Audit? A contract compliance audit is an in-depth review of contract terms and whether these terms are being met by internal and external parties. Statutory compliance parameters: Safety and health regulations, labor codes, data security standards, local and international guidelines, licensing, etc.

Third Party Contracting 52

Third Party Contracting Regulations Analytics Automation 52

Mercans

DECEMBER 11, 2021

Subscribe to Mercans’ UAE payroll outsourcing alerts to ensure that you are always up-to-date with the lasted regulatory changes in Jordan labor and payroll compliance requirements. Mercans’ UAE Payroll Outsourcing Solutions. Download PDF: Mercans Statutory Alert UAE New Workweek.

Payroll 52

Payroll Outsourcing Government BPO 52

Velocity Global

JULY 5, 2022

Having an entity in another country allows you to create a local branch and hire employees. It requires a knowledgeable team with an understanding of the local laws and regulations, bandwidth to take on complex and time-consuming processes, initial capital investment, and ongoing entity maintenance fees. Withholding Statutory Benefits.

Payroll 64

Payroll Regulations Government Accounting 64

Velocity Global

NOVEMBER 16, 2022

Comprehensive and statutory benefits. Ongoing support with local labor laws and regulations. If local labor officials view your contractor as an employee, you could face legal consequences and fines. Companies must find a solution such as contractor payments to ensure timely and secure payments. International payments.

Banking 52

Banking Regulations Payroll Out-Tasking 52

Velocity Global

APRIL 20, 2023

Employment law in China is complex, and maintaining compliance is an overwhelming undertaking for foreign companies that aren’t up to date on current legal and labor requirements in the country. However, employers can grant talent a flexible schedule if they receive permission from their local labor administration. Resignation.

Insurance 52

Insurance Administrative Flexibility Payroll 52

Velocity Global

JANUARY 9, 2023

An EoR is also familiar with Mexican labor laws, ensuring your business complies with local legislation. While you classify your talent as contractors, local authorities may classify them as employees under local labor laws and impose hefty penalties on your business, such as taxation back pay and benefits arrears.

Payroll 52

Payroll Right-Sizing Government Banking 52

Neeyamo

JUNE 28, 2022

Implementing RPA in a payroll solution requires meticulous process analysis and domain expertise. For instance, tasks such as data entry (manual input), data validation, compliance auditing, master data changes etc., After testing, the solution is introduced into the live system environment for real-time functioning.

Robotics Process Automation 59

Robotics Process Automation Payroll Automation Data Entry 59

Mercans

SEPTEMBER 20, 2022

There is no other solution available in the market that enables clients to generate payrolls across 160 countries on a single platform.” Our end-to-end payroll software integrates seamlessly with all major HCM solutions or can be used as a stand-alone digital payroll platform.

Payroll 52

Payroll Engineering Operational Costs Automation 52

Velocity Global

JANUARY 20, 2023

Foreign employers looking to hire employees in Malaysia must familiarize themselves with local legislation to avoid noncompliance penalties such as fines, back pay, and even imprisonment. An EoR is also well-versed in Malaysian employment law and ensures your business always complies with local legislation. Work agreements.

Payroll 52

Payroll Insurance Administrative Human Resources 52