Key benefits of using the services of top Employer of record firms in China

The Employer of Record (EOR) firms are the third party organisations that are engaged in the activity of hiring and pays the employees on behalf of the hiring organisation. The firms offering global employer services in China act as an employer basically for the purpose of taxation and the employees work for some other organisation. The top Employer of record firms in China is responsible for employment arrangement and administrative work and allows the company to efficiently and legally engage with workers located overseas without bringing any violation of the local laws pertaining to employment.

Here are the benefits of employing their services:

Quick entry into the market

The EOR companies help the foreign companies to enter the Chinese market in a short span of time. With the help of these companies, the foreign companies can easily hire the Chinese employees or an overseas employee to work for them. The nominal employer for these employees will be the employer of record firm and they will look after the HR and payroll contributions and related services.

Flexibility

The global service company offers different solutions that depend upon the stage where the company currently is. If, for instance, the company is looking for hiring new employees and manage the payroll in the Chinese boundaries, then the EOR firm can hire the employees irrespective of the company not having the legal Chinese entity. If the company has an established existence, the payroll issues can easily be managed by hiring the services of EOR firms. They can easily take care of accounting and taxation services.

Compliance

China has some specific rules related to taxation and payroll and depending on the type of industry and nationality, the companies are required to follow them. The EOR company can help the company deal with the complicated aspects related to Income tax, payroll tax, social security costs, withholding tax, sales tax, and business tax and ensure that the company is 100% compliant with the taxation rules.