Doing Business in India with a PEO/EOR
With 1.2 billion people and a rapidly growing population, India is proving itself to be an attractive destination for foreign investors looking for a combination of strong market opportunities, well-educated candidates, and high value throughout the supply chain. India’s technology, manufacturing, financial services, and engineering industries are booming, yet it continues to attract a diverse pool of investors. That said, doing business in India can be complex without adequate guidance from local experts. Companies considering expansion into India should look into partnering with a professional employer organization (PEO) or employer of record (EOR) to facilitate hiring, managing, and terminating staff in the country.
Read on to discover the benefits of using a PEO/EOR in India and to get rankings of the top providers.
Why Use a PEO/EOR in India?
With a legal system largely based on that of the British, there is a degree of familiarity with aspects of the regulatory environment in India for many investors. Yet in the years since independence, India has, of course, infused into that system its own cultures and societal expectations, which may not be as familiar. Using a PEO/EOR is one means of overcoming this issue. A PEO/EOR can manage all aspects of the employment process – many offer recruitment of staff, too – from having contracts written up in local languages to managing any conflicts that may arise. Best of all, PEOs/EORs handle everything in a compliant manner, relieving the investor of considerable administrative efforts.
1. Velocity Global: www.velocityglobal.com
A large US corporation with a global presence, Velocity Global is a reliable and well-connected PEO/EOR offering services in India. Common situations that Velocity Global handles include converting an Indian contractor into an employee, setting up compliant means of outsourcing work, and providing an interim hiring solutions while setting up an entity in India. With Velocity Global’s expansive international network, they can get staff in place in India within a matter of days.
2. Indcubate: www.indcubate.com
Indcubate is a company with over 15 years’ experience in helping international companies expand into India. Based in Pune, India, Indcubate helps companies to set up their operations in India. In particular, it helps companies to outsource departments, projects, or tasks to a highly trained staff in India and benefit from the significant cost-efficiencies that may bring. Indcubate offers services in relation to setting up an office, hiring staff, payroll and tax compliance, and managing employees on a day-to-day basis, making them suitable for companies that want to hand off all management of the staff in India.
3. SkyExecutive: www.skyexecutive.global
SkyExecutive is a leading recruitment agency in Asia that is also able to service clients as a PEO/EOR in India. SkyExecutive can facilitate rapid market entry in India, hire individual staff members or teams on a company’s behalf, and take care of all administrative and compliance issues. In providing recruitment and PEO/EOR services, SkyExecutive offers a truly end-to-end solution that can facilitate rapid labor dispatch in India, without the need to set up a local entity.