Professional Employer Organization (PEO) in Dhaka, Bangladesh
We are a professional employer organisations (PEO) what we provide employee management services, such as payroll processing, benefits management and recruitment, to businesses. Legally speaking, we hire the employees directly in a process called co-employment or joint employment. This makes processing payroll, tax, benefits and insurance far easier.
In the Bangladesh, a common form of PEO is an umbrella company, which provide the same types of services for contractors rather than permanent employees. Our PEO services may includes, human resource consulting, safety and risk mitigation services, payroll processing, employer payroll tax filing, workers’ compensation insurance, health benefits, employers’ practice and liability insurance (EPLI), retirement vehicles (401(k)), regulatory compliance assistance, workforce management technology, and training and development. This PEO services are operational under a contractual co-employment agreement with you.
If you’re looking to get started right away, consider working with PayrollBD. We’ll provide payroll compliance and tax processing, plus benefits, HR support, workers’ comp, and consulting services for a low monthly per-employee rate. Your Employees maintain their eligibility for benefits, pay rate and job seniority that they have accumulated and in many cases find that they have access to better benefits through the PEO business arrangement. Your Employees are under our Direct Control and Supervision. Your company will determines wage rates, working hours, job responsibilities, job performance, compliance with rules and regulations, etc.
Our PEO service offers more than just back-office paperwork processing for HR and payroll. They’re certified in HR and have the tools and experience to maximize employee effectiveness while minimizing business and operation risk. We are master of HR law, and our systems are programmed with tax tables and compliance tools to help you avoid legal mistakes or fines.
In addition, the PEO provides time-savings by handling routine and redundant tasks associated with the following:
- Payroll and Payroll Taxes
- Employee Benefits
- Human Resources Management
- Employment Practices
- Regulatory Compliance issues
- On-boarding, claims, and benefits-related paperwork.
Save cost and Grow
Here are the kinds of businesses that may find a PEO serves them well:
- Start-ups that want to provide employees with full benefits
- Small businesses that want to keep their workers’ comp costs low
- Forward thinking companies that want to improve their employee experience, employment brand, and ability to recruit top talent
- Any small business that wants to ensure accuracy without hiring HR and payroll experts
- Any business that wants to reduce compliance risk
Our Virtual office is designed for clients who need access to office space and business services on an as-needed basis. We have a variety of virtual office services that give you the flexibility to grow your business while spending only on your business need our world-class service gives your growing business a professional office address, a local number and a receptionist answering your calls in your company name. There are no hidden costs. You know exactly what you are going to be invoiced each month, allowing you to effectively manage your cash flow and allocate your business finances. We do not charge for IT and telephone connections, telephone answering services, center assistant services concierge services, or coffee! Stop by for a coffee with a member of our team to discuss your requirements.
PEOs help with different types of benefits administration, such as benefits onboarding, claims, and other benefits-related paperwork.
They can help you access medical, dental and vision coverage for your team at affordable rates. That’s because the PEO model typically aggregates the employees of many small business together to harness the buying power normally reserved for much larger businesses. A PEO will support your employer-related compliance needs for payroll taxes, employee tax forms, and reporting forms.
Compliance support that PEOs offer includes:
New hire reporting
TR Challan and TAX filings and return.
Employment Practices Liability Insurance (EPLI)
Unemployment Insurance filings
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Let us help you get your business online and grow it with passion
Before establishing operations in Bangladesh, it is of vital importance to understand, and to be aware of the different ways to engage and hire local staff. Keep reading and learn about an attractive method to hire staff, which does not have the economic or administrative burden that forming a local legal entity has.