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EOR Solutions Malaysia
(EOR) Employer of Record Solutions
What is an EOR?
EOR stands for “employer of record”. It is a third-party organization that does hiring and payroll on behalf of businesses.
EOR enables clients to hire overseas’ talents from another country without the need to set up a local entity by themselves. As such, companies do not need to worry about violating the local employment laws of the country they intend to hire due to unfamiliarity with the local legal requirements.
With EOR’s help, companies can hire, manage and pay global employees according to their country’s currency seamlessly and compliantly.
Functions and Responsibilities of an EOR
- Employment contracts
- Onboarding, orientation, and training of new hires
- Accurate and timely payroll processing
- Benefits, deductions, and taxes compliance
- Study the labor laws of the host country regarding worker protections and local contracts
- Act as a channel between government authorities and the client
- Creating timesheets and implementing incentive schemes
- Terminate workers on behalf of the client
Benefits of Hiring an EOR
- Fast market entry
- No need to set up a local legal entity to employ global workers
- Time and indirect cost savings
- Real-time data via custom dashboards
