Employer of Record (EOR)
An Employer of Record (EOR) is a service where Accura acts as the “official employer” for a client’s employees. This means Accura will handle all legal, administrative, and tax-related aspects of the employees, while the client retains control over the employees’ day-to-day work.
Benefits of EOR for Clients
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Simplifies business expansion into foreign countries without the need to establish a legal entity.
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Reduces compliance risks by ensuring adherence to local labor laws, tax regulations, and employment standards.
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Saves time and resources by outsourcing HR, payroll, and legal responsibilities.
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Provides flexibility in hiring and managing global talent.
How EOR Integrates with Accura’s Existing Services
- Accura already offers Payroll Computation, which aligns well with the EOR model. Here’s how the integration can work:
- Payroll Management: Accura can handle payroll processing for EOR employees, ensuring accurate and timely payments.
- Tax Compliance: Accura can manage tax deductions, filings, and reporting for employees under the EOR arrangement.
- HR Administration: Accura can take care of employee onboarding, contracts, benefits administration, and offboarding.
- Legal Compliance: Accura ensures that all employment practices comply with local labor laws and regulations.
Proposed EOR Service Model for Accura
Here’s a proposed structure for the EOR service:
a. Service Offerings
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Global Employment Solutions:
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Hire and manage employees in multiple countries without setting up a local entity.
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Ensure compliance with local employment laws and regulations.
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Payroll and Tax Management:
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Process payroll for EOR employees.
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Handle tax withholdings, filings, and reporting.
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HR and Compliance Support:
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Draft employment contracts compliant with local laws.
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Manage employee benefits, insurance, and statutory requirements.
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Employee Onboarding and Offboarding:
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Facilitate smooth onboarding processes.
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Handle termination procedures and exit formalities.
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b. Pricing Model
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Subscription-Based Pricing:
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Charge clients a monthly fee per employee under the EOR arrangement.
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Include additional fees for value-added services like benefits administration or international payroll.
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Custom Packages:
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Offer tailored packages based on the client’s needs (e.g., payroll-only vs. full EOR services).
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c. Target Market
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Multinational Companies: Businesses expanding into new countries.
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Startups and SMEs: Companies looking to hire globally without the complexity of setting up legal entities.
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Remote Workforces: Organizations hiring remote employees in different jurisdictions.
d. Technology Integration
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Develop or integrate a platform that allows clients to:
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View and manage employee data.
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Track payroll and compliance status.
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Access reports and analytics.
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Why Choose Us
Your payroll calculations are handled with accuracy, ensuring all tax and legal deductions are fully compliant
We provide efficient payroll services each month, aligned with your company’s requirements and payroll timelines
With a streamlined process, we manage payroll so you can focus on core business operations
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