Understanding Payroll, Compliance, and Contracts Through an Employer of Record
For most startup entrepreneurs, the excitement of assembling a global team usually has a secret test. It can be coping with payroll, compliance, and contracts in various countries. What might look like an emblem of growth can become complicated legal riddles. This is where an Employer of Reco rd (EOR) comes into play. An EOR serves as a conduit to facilitate employment, compliance and payroll without the entrepreneur having to establish a legal entity in that country. This is of great value to international expansion for startups. Let's explore how the employer of reco rd for startups model simplifies three key areas that usually overwhelm small but ambitious companies: payroll, compliance, and contracts. What is an Employer of Reco rd (EOR)? An Employer of Reco rd is a legally recognized entity that hires employees for another entity. To clarify, your startup oversees personally the daily tasks, objectives , and...