Compliance

Avoid the Compliance Conundrum: The Importance and Consequences of Compliant Employment

The importance of being a compliant employer cannot be overstated. A compliant employer is a business or organization that adheres to all relevant laws, regulations, and requirements related to employment. This can include issues such as pay, benefits, working conditions, health and safety, and tax.

Being a compliant employer means taking all necessary steps to ensure that the business is operating in accordance with the law and all relevant regulations. Businesses must be aware of all relevant laws and regulations in order to be compliant employers, and to have systems in place to make sure they are followed.

Employer Contribution

Employer Contribution in Hong Kong

Hong Kong is a major hub for international trade and finance, with a large port and airport, and a major financial center. It is also home to a number of major multinational corporations, and is a center for business services, such as accounting, consulting, and legal services.

However, when consider expanding to Hong Kong, there are a few local labor regulations that you need to pay attention to when hiring in Hong Kong. Aside from monthly salaries, employers in Hong Kong need to contribute to the Mandatory Provident Funds of their employees according to the local labor law.

Mobility

Understanding Digital Nomad Visa

When working remotely, all remote workers can enjoy the flexibility to work from anywhere outside the office. However, there are some possible HR implications for companies to allow employees to work remotely overseas. By law, when entering a country with a tourist visa, it is the visitor’s responsibility to perform work or engage with the local workforce there. This is where digital nomads’ visas can play an important role to allow remote workers to work beyond borders.

Employer Contribution

Employer Contribution in Malaysia

KWSP (Kumpulan Wang Simpanan Pekerja) or Employees Provident Fund (EPF) is a retirement saving scheme for individuals who are employed, self-employed or business owners in Malaysia. A person employed by an employer under a service contract or apprenticeship is liable to contribute towards EPF, unless they are covered by the First Schedule, Second Section of the EPF Act 1991. EPF is governed under the Employee Provident Fund Act 1991. EPF contribution will be managed and invested under Simpanan Konvensional and Simpanan Shariah. The saving is comprised of the employee’s and employer’s monthly contributions and yearly dividends earned.

Employer Contribution

Employer Contribution in Singapore

As an employee, you might have noticed some deductions from your monthly gross salary as stated on your payslips. However, as an employer, if you are planning to employ talents from Singapore, there are some monthly contributions that you have to make towards Employee Contributions Fund and Social Security Contribution for your employee’s benefit as required by local labor law in Singapore, namely Central Provident Fund (CPF) and Skill Development Levy (SDL)

Compliance

Breaking Down Geography-based Salary For Your Global Teams

With the rising trend of remote work, many employees are considering relocating to an ideally better and less expensive neighborhood area to move in. Employees now don’t need to find accommodations close to their office anymore. In fact, employees are now more than ever to have the freedom to decide on where to work. However, geography-based pay comprises many complex factors. For this reason, it is crucial to acknowledge various approaches employers can take to implement these policies. 

Compliance

Employment Risk Management Playbook for Global Team

What is employment risk, and what are those risks? Employment risk applies to both employees and employers when legal employment is formed. Whether it is a blue-collar or white-collar job, every job comes with a risk. By definition, employment risk is a risk that is inherent in an employee’s job or work site. This is where employers come in to provide employees with insurance and other perks to ensure the employees’ well-being. While employee risk management includes ensuring both mental and physical wellbeing, protecting employees’ labor rights, and preventing any of those rights to be violated by the employer are also included as part of the employees’ risk to manage. 

Compliance

All About Payroll: Get to Know Various Payroll Outsourcing Services for Your Business

t is not uncommon for many businesses to resort to third-party services to provide them with the extra hand to handle payroll. However, there are numerous outsourcing services related to payroll that offer other human resource management services payroll. To name a few, in this article we will be comparing an accounting firm, payroll agency, and Employer of Record (EOR). 

Compliance

Cross-Border Employment is More Than Just International Banking Transfer

To the employers and enterprises, there are some other factors that need to be taken into consideration when hiring overseas talent, aside from just international bank transfer. And truth to be told, perhaps your ability wasn’t even part of the equation as to why the overseas company couldn’t proceed with the employment this time around. If anything, they highly respect your value that they will not proceed with the employment process without providing the rest of the employment package such as social contributions and other relevant benefits that are required under the local labor law.

Compliance

EOR vs. PEO: Identify The Most Suitable HR Outsourcing Service for Your Company

EOR and PEO do, however, have certain distinctive features that employers should consider before deciding which service they should use for HR management. We have talked about Employers of Record and how it can support expedite your business expansion overseas in our last post. In this section, we will elaborate more on Professional Employer Organizations so that you can better understand their differences.

Compliance

Hiring Overseas: What Business Owners Should Know Before Setting Up Foreign Entities

When entering a foreign market, as a business entity or employer, you might find your competitors to be in the same market as you. Therefore, it is likely to become a war for talent. When you need to get talents onboard with your company as quickly as possible, Employer of Record (EOR) is the perfect solution to help you get up and running quickly while continuing to plan for your future brick-and-mortar company.

Compliance

Expanding Team Overseas? Here’s How EOR Service Providers Can Expedite Your Growth

Are you planning to expand your business globally as you grow your team? When considering international expansion, many businesses assume that the only way to achieve this is by setting up their own physical company entity abroad. However, setting up an entity can be time-consuming and complicated. Employer of record (EOR) services can be considered as an alternative to help you achieve this goal without all the hassles.