The world is becoming increasingly interconnected, and professional landscapes are shaping differently with time. A new trend has recently been noticed: Indian professionals are returning home from abroad for personal reasons, or sometimes, the visa becomes an obstacle to staying back. In this case, it becomes difficult to reconnect with their current employer, and they look for a better option to propose to their employer.
EOR is a beneficial option for employers because it allows them to retain a trusted and experienced professional without setting up an entity in India. At the same time, the employee doesn’t need to sacrifice the opportunity to work with an international organization. However, finding the right EOR partner that will fulfill both employer and employee demands stands as an obstacle.
At Remunance, we’ve provided employee support for IT logistics, and office infrastructure, and even built teams around them. We ensure a seamless integration for both employers and employees returning to India. With the help of this model, the employer experiences leverage the established relationship. This is a win-win situation for both employees and employers. The employer can retain experienced employees and the employee gets to stay back in India. It’s a forward-thinking solution that maximizes mutual value in a globalized workforce.
Let’s understand how Remunance delivers EOR services to employees returning to India and helps employers maximize mutual value in a globalized workforce.
Matching Employee Benefits
Employees returning to India are concerned about the existing benefits they receive abroad. Remunance ensures the employees won’t suffer and the transition does not minimize their benefits.
Remunance works closely with foreign organizations to ensure and align the benefits employees receive such as health insurance, retirement plans, and wellness programs to Indian standards.
Remunance provides mandatory health insurance to all employees despite the health insurance policy being optional in India.
20 to 25% of Indian applicants place a greater income above other benefits of employment, according to a survey conducted by the Indian Staffing Federation. Nonetheless, workers who like positions with health insurance look for further perks like cashless hospitalization, medical expense reimbursement, and premium waivers for serious illnesses.
Employees receive seamless continuation of benefits such as flexible working hours, remote work, and training programs. Also, Remunance provides premium health insurance plans and coverage, ensuring employees and their family members are covered.
Remunance ensures that the employee feels protected and receives all the benefits that are competitive, localized, and similar to their foreign benefits.
Continuous Employment Assurance
The key challenge all employees returning to India face is maintaining their employment records. Along with that, it is important to maintain career progression, financial stability, and compliance.
Remunance ensures no break in employment by transitioning the employee smoothly to our EOR model. We ensure that all the employment records are aligned with Indian labor laws at the same time continuity with the overseas employer is ensured. We have a team of experts to conduct the transparent onboarding process seamlessly. We ensure the employees returning to India don’t get disturbed in work schedules or payroll cycles from day 1.
We help employees and employers keep their professional relationships as robust and undisrupted as it was before.
A Guide to Indian Compliance
Employees familiar with foreign tax and compliance procedures could find it hard to understand Indian systems. Remunance simplifies the complicated nature of Indian rules by serving as an educator or advisor. There are four major parts we should know, Provident Fund (PF), Gratuity, Professional Tax (PT), and Income Tax (IT). Let’s understand all of them one by one.
- Provident Fund (PF): To ensure long-term financial security, workers have been given PF contributions. In this, employers contribute 10% to 12% of an employee’s salary, with a portion allocated to a pension scheme, ensuring retirement benefits in India.
Employees also match this 10% to 12% monthly contribution. If required, we additionally help them with EPF withdrawals.
- Gratuity Awareness: Employees get full details about qualifying specifications, projections for post-employment monetary security, and gratuity benefits.
- Professional Tax (PT): The professional tax appears on the deductions side of the payslip which is 200 Indian rupees. However, it varies from one state to another. In addition, INR 2,500 per person yearly has been set as the upper limit. This is the highest professional tax that a state government may impose.
We monitor PT deductions and advise employees about their importance for state-level compliance.
- Income Tax Simplification: We ensure that employees are tax-compliant and have the data they need to effectively file returns, from explaining tax slabs to optimizing deductions.
By streamlining these processes, we enable employees to focus on their work without getting sidetracked by compliance issues.
IT Infrastructure Employee Support
To be productive, continuous IT support is a necessary demand for those who work remotely. To meet the Information Technology demands, Remunance delivers robust solutions. Remunance provides secure IT systems, Hardware and Software support, 24/7 helpdesk support, and Collaboration tools. Let’s take a look at how Remunance offers support to the employees one by one.
- Secure IT Systems: We assure employees have access to safeguarding information tools, secure VPNs, and compliance with worldwide IT laws.
- Hardware and Software Support: We provide complete assistance with anything from acquiring laptops to installing secure servers to managing software licenses.
- 24/7 IT Helpdesk: Our dedicated IT assistance team quickly resolves technical issues to reduce delays and enhance productivity.
- Collaboration Tools: To promote uninterrupted communication with their global teams, employees are given access to the newest collaborative technologies, such as Zoom, Slack, and Microsoft Teams.
This ensures that, regardless of geographic location, the standard of work and connectivity remains constant.
Lead Your Team in India
When employees return to India, they often take on roles of leadership to establish and manage local teams. As the senior employee shifts to India, it becomes an opportunity to form a team in India under the senior employee of the company. It is the most cost-effective and productivity-enhancing option for the employer.
After having their senior employee in place, companies often prefer hiring the best local talent instead of sending a team from the HO country. In India, this is the best-case scenario as we have the biggest and most skilled talent pool.
Remunance simplifies the process of forming a team by offering specialized hiring solutions such as HR support, administrative support, and team integration. Let’s understand one by one.
- Finding Top Talent: Our recruitment team finds qualified professionals in India to provide the team with a solid foundation.
- Customized Hiring Strategies: We adapt the hiring process to meet the requirements of the Indian market while maintaining them following the business’s goals.
- Administrative and HR Support: We handle all of the administrative tasks, from preparing offer letters to onboarding new personnel, so that the staff member can concentrate on leadership.
- Team Integration: Through frequent training sessions and team-building activities, we assist the newly formed Indian team and their international counterparts in collaborating smoothly.
By providing employees with the resources they need to lead effectively, we make it possible to drive the expansion of the business in India.
Conclusion
We understand your worry about leaving the opportunities of international organizations after returning to India, but that’s not the case anymore. Remunance has made it possible for employees to enjoy the best of both worlds. You don’t need to sacrifice your professional growth offered by international organizations while staying in India. You can be with your family and serve responsibility.
We have designed a comprehensive EOR model that ensures the transition is seamless. We ensure that the employees and their organizations feel empowered with the services and want to continue their journey together. This blog clearly states all the key aspects above such as benefits, compliance, IT infrastructure, and recruitment. We hope that the knowledge we provide has enlightened you. If so, you can trust Remunance just like many other successful clients.
