| Currency | Payroll Frequency | Employer Taxes |
| Sri Lanka Rupee (LKR) | Weekly, Bi-Weekly, or Semi-Monthly | Provident Fund (EPF): 12%
Employee Trust Fund: 3% VAT 8% |
Introduction
Sri Lanka, a small island nation located in the Indian Ocean, has a diverse and dynamic economy that has undergone significant changes in recent decades. The country has a mixed economy that combines elements of both market and state control, with a strong emphasis on exports and foreign investment.
Over the past few decades, the Sri Lankan government has implemented a number of economic reforms aimed at liberalizing the economy and attracting foreign investment.
These reforms have led to an increase in exports and a growth in the manufacturing sector, and have helped to diversify the economy.
How can PEO solutions help?
Imagine the ability to hire across country boundaries at scale and without having to worry about the legal and employee administration process of your employee. That’s how PEO solutions work.
By providing total workforce management solutions, AYP Group is able to help you manage payroll, distribute competitive employee benefits packages, and ensure that your business is compliant with the relevant local legislation wherever your employees are based.
How much would PEO Solutions cost?
The range of solution providers of PEO solutions can range from USD300 per employee to USD650 per employee. View AYP Group’s transparent list of solutions for your worker types here.
Find out about AYP’s total workforce management solution today!
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Contact our HR specialists to learn more.