EOR & Compliance Digest, July 30: DHS Ends “Duration of Status” for Foreign Students and Scholars
EOR & Compliance Digest, July 30: DHS Ends “Duration of Status” for Foreign…
Asanify is a global Employer of Record (EOR) that lets companies hire employees compliantly in 100+ countries without setting up a local entity. As the legal employer, Asanify runs payroll, taxes, benefits, contracts, and statutory compliance, while you direct daily work. Setup takes 24 hours, and the HRMS is included.
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Book a demoAsanify’s employer of record (EOR) services span all continents, empowering your business to hire globally. We bring extensive expertise in diverse areas, including Europe, Africa, the Americas, Asia, and Oceania, so you can rely on our knowledgeable support and focus on expanding your business internationally.
If you’re considering hiring specialized skill sets from different geographies – You need to look no further.
Hire anywhere globally, and just relax!
You do not need a legal entity in the country, Asanify becomes your single point of contact for hiring, onboarding, and managing your employees globally.
Asanify streamlines and manages employee joining formalities, monthly payroll, and benefits, apart from all statutory compliances.
By leveraging a Global EOR, businesses can hire and manage employees in various countries without having a legal entity.
As you prioritize your primary business activities, be confident your workforce globally is expertly managed.
Your one-stop shop for all your payroll and compliance management requirements in a foreign country where you need to hire your employees. You do not need to have your company’s local entity or any business presence in that country – with Asanify, you can just identify the employee and get them onboarded as an EOR with Asanify.Â
And what’s more…
You can also leverage the Asanify Partner network for any of the requirements related to recruitment, visa services, or any local accounting services.
With Asanify, the EOR services are applicable not just for your full-time employees, but you may also choose to have your contract employees on the same. For your contractors, with their local VAT and GST registrations, Asanify takes care of all tax deductions and local compliance filings for your contractors. With Asanify, you can just identify the local contract employee and get them onboarded with Asanify.Â
And what’s more…
You can also leverage the Asanify Partner network for any of the requirements related to recruitment, visa services or any local accounting services
With Asanify, you can pay independent contractors across 200+ countries in their local currency. With our best-in-class FX rates and a 24-hour turnaround time for payments, your employees always get paid the right amount and on time. You can choose to transfer the payments locally in your currency, and your employees will receive their payments in the currency of their choice. Asanify supports both local bank and SWIFT transfers.
And what’s more…
You can also leverage the Asanify Partner network for any of the requirements related to recruitment, visa services or any local accounting services
For your vendors across 200+ countries, Asanify offers an automatic invoice generation facility through the platform and enables you to pay your vendors in their local currency within 24 hours. With our best-in-class FX rates, your vendros always get paid the right amount and on time. You can choose to transfer the payments locally in your currency, and your vendors will receive their payments in the currency of their choice. Asanify supports both local bank and SWIFT transfers.
Besides Asanify's knowledge and experience, our partnerships with Legal Firms, Labour Consultants, Chartered Accountants, and HR Consultants ensure that you always get the best advice.
Asanify is integrated with Slack, MS Teams, and WhatsApp to make sure that no matter where you are, all the HR information is readily available for you and your employees.
It is just a one-day turnaround time for you to get the employee onboard and start business operations. Asanify offers you in-person customer support for you to get started.
Asanify extends its relationship with your EOR employees as well. Whether it is structuring the salary to make it tax-friendly, or the need for any verification documents - it is all covered.
Digitally signing the Master Agreement & Employee Annexure
Asanify's account manager collects all employee information
Asanify rolls out employment contract to the Employee
Asanify’s account manager completes the documentation and all onboarding formalities
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Asanify's, should be the number 1 choice for companies looking to pay their overseas employees and contractors. I have a team of 40 people in India and not for a single month have i experienced any delays in the payment process.
In my business, things happen fast, and requirement for new employees is sudden. In such a situation a trusted partner like Asanify comes in handy as I know I can quickly ramp with onboarding and employee formalities diligently taken care of.
As a global company, we go through M&As in countries where we do not have presence. In India, we quickly onboarded ~30 employees as part of a takeover. With Asanify's turnaround time the overall change was managed brilliantly.
Asanify’s expertise when it comes to Local Compliances is something I have benefitted extensively from. Whether its Employee-Contractor classification, or the local laws for employee benefits and working hours - I trust the guidance provided.
Apart from using EOR services, I find a lot of value in the fully automated Asanify HRMS. For me, it makes it absolutely comfortable that I can access all my HR inforation anytime, anywhere and on any platform - Slack, Whatsapp etc.
My employees are in India, while I am based in Dubai and the co. in the US. Managing time zones is a huge challenge for us. Working with global partners like Asanify ensures that all my payments, and query resolutions are done in time.
It is paramount that my employees are well taken care of. Asanify goes above and beyond In terms of employee benefits, salary structuring to make it more tax friendly and constant guidance. For over a year with Asanify’s EOR, I have had no reason to feel disappointed.
The best EOR provider depends on the countries you hire in, pricing, and platform. Asanify ranks #1 for ease of use on G2 (4.9/5), includes a full HRMS, and prices below Deel in every market it serves, starting at $199 per employee per month. Compare providers on country coverage, compliance track record, and total cost.
An Employer of Record is a third-party organization that legally employs staff on your behalf in a country where you have no legal entity. The EOR handles employment contracts, payroll, tax withholding, benefits, and statutory compliance, so you can hire international talent without incorporating locally.
There are a lot of benefits that are associated with using a global EOR such as follows:
There are a lot of risks that are associated when you hire without a global EOR. Here are a few of the things that could result in place of non-compliance:
The cost ranges of an EOR could vary on various factors such as service fees, the area where you have your EOR, and the number of employees. However, the average fee of an EOR would be around $200 to $500 per employee monthly.Â
An employer of record is a party service that helps a company by assuming full responsibility of legal matters such as employing staff on behalf of the organization.Â
The EOR initially recruits and onboards an employee and then takes on the main responsibility of employment administration, HR responsibilities, and payroll benefits.Â
An EOR becomes the legal employer of your workers in a country where you have no entity. It signs compliant employment contracts, runs local payroll, withholds taxes, administers statutory benefits, and files with the authorities. You keep control of day-to-day work, role, and pay decisions, while the EOR carries the employment and compliance liability.
While PEO services mainly look after all the HR functions, your EOR will help you handle all the legal responsibilities in a new country without having to establish a new legal entity.Â
All those companies who want to achieve the following goals would benefit from getting a global EOR service.Â
A Global EOR can facilitate hiring in numerous countries, including popular markets like the United States, Canada, Germany, United Kingdom, India, Brazil, China, and more. The EOR’s ability to provide localized support ensures compliance with labor laws, tax regulations, and benefits requirements in each country. This is especially valuable in complex markets like Japan, Mexico, and France, where labor laws are stringent and frequently change.
As a part of the legal and compliance duties, Global EOR is responsible for the following tasks:
A global EOR tends to calculate gross pay based on salary, overtime, and the bonuses provided. Applying the country-specific deductions ensures that all the contributions are paid for and the payroll is processed within time.Â
EORs help by facilitating the swift onboarding of new employees and by handling administrative tasks such as payroll setup and employment contracts.
The EOR industry is definitely going to grow much more than how it is now. This is due to the increasing demand for international talent and the flexibility that is offered by EOR services. The EOR market is also expected to hit $3 billion in net revenue by the end of 2024.
EOR pricing is charged per employee per month and varies by country. Asanify’s listed EOR pricing starts at $199 per employee per month (for example, the Philippines) and sits below Deel’s $599 in every market Asanify serves. Your total cost also includes the employee’s gross salary plus employer statutory contributions. See Asanify’s international pricing for the per-country rate.
