Benefits Of Hiring Employer Of Record In Malaysia

by Steve Manon Content Promoter

After achieving success in the domestic markets, you are planning for a business expansion in other territories. Although the idea sounds wonderful, have you enlisted the things you need to do before venturing into foreign markets? When you are attempting to expand into Malaysia without having a footprint in the country needs to take some initiatives to cater to the country's employee relations. Here is where the Employer of record Malaysia comes into play to help convert your business expansion strategy into reality.

 

How can an employee of record services help you?

Before you even plan out where you will set your office in Malaysia, you need to hire workers to manage your business. However, recruiting employees is limited to taking interviews and sending offer letters to the selected candidates; it is quite an elaborate process. EOR is a 3rd party organization having a large pool of skilled and talented candidates, and once you invest in their services, they will start interviewing potential candidates for your organization. After hosting multiple rounds of interviews, they will send a confirmation to the shortlisted candidates by abiding by Malaysia's work permit norms. You would be surprised to know that they will manage your employees' payroll and other entitlements in Malaysia on your behalf.

 

What are some of the other benefits you would receive from EOR?

Here are some perks provided by EOR to businesses looking forward to expanding overseas while saving their cost and time:

 

• No local incorporation needed

Businesses need to set up a local entity in Malaysia via registration and, without it, they cannot proceed any further. The process can take up to several months, and you would need to hire legal and accounting professionals for the formalities. Instead, if you consider associating with an employer of record, you can skip this process as the EOR already has a local entity. Thus, the EOR is eligible to handle your employees' immigration, employment, and compensation requirements in Malaysia.

 

• Compliance with immigration laws

With the constant additions of new immigration laws and policies, it isn't easy to keep them in mind while preparing work permits for your employees. However, with government officials' increased scrutiny of work permits and overall business activities, the penalty will be high if you are non-compliant with the laws. If you violate any immigration laws, your brand reputation will be at stake for quite a long period. It would be better if you don't take such unnecessary risks and handover these tasks to the professionals, EOR services.

 

• Managing local payroll in the host country

You might think that you can go for a remote payroll system, but the fact is that it would not be permitted in the country for long-term assignments. The EOR takes care of calculating the compensation and other benefits such as medical insurance, pension, etc. Since they are registered as a local entity in the host country, they are well versed with the tax deductions of that country as well.

 

If you plan to consult Malaysia employer of record to help you expand in Malaysia, the process will be completed within the shortest time possible.

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Created on Dec 22nd 2020 09:15. Viewed 351 times.

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