Bangladesh Payroll Services

At Bradford Jacobs, we navigate the administration of the Bangladesh payroll system for you. We do the work, so you do not have to.

Bangladesh Payroll

The People’s Republic of Bangladesh – to give the formal and official title – has grown to become South Asia’s second strongest economy since it was formed in 1971. Traditional strengths in textiles have developed Bangladesh into one of the world’s leading producers of ready-made garments, which account for 80% of exports.

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Diversification into new sectors is attracting Foreign Direct Investment into such as pharmaceuticals, agri-business, biotechnology and petrochemicals and the growing number of economic free zones, where international companies can have 100% ownership of subsidiaries.

International companies expanding operations in Bangladesh to maximise these opportunities face a major commitment if they also intend running the payroll for their company. They must also comply with every aspect of legislation under the Labour Act, which is not straightforward in Bangladesh.

Bradford Jacobs’ Professional Employer Organisation (PEO) and Employer of Record (EOR) platforms and networks provide complete answers to every question your company will encounter before you move into the economy, especially when it comes to operating payroll.

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Available Bangladesh Payroll Options

  • Remote payroll – This option allows businesses to operate under a single payroll system, by adding employees in Bangladesh to your parent company’s payroll. However, these employees must operate under different regulations, which is likely to cause problems.
  • Internal payroll – You may operate payroll for your subsidiary, especially if you are committed to growing your company’s presence in Bangladesh. However, this does require hiring dedicated HR staff who understand Bangladesh employment and compliance laws.
  • Bangladesh’ payroll processing company – If you are considering outsourcing, then working with a Bangladesh payroll company will help in processing your payroll – but not when it comes to compliance.
  • Bangladesh’ payroll outsourcing – However, there is another option available that solves both concerns – by working with Bradford Jacobs. We can handle payroll and compliance for all your employees in Bangladesh. We take the administrative stress off your shoulders so you can focus on what you do best.

Foreign companies intending to operate in Bangladesh have to set up a subsidiary in the country in order to hire employees and operate their payroll. Foreign-owned subsidiaries in Bangladesh are typically set up as a limited liability company (LLC), which must operate under the Companies Act (1994) and incorporate through the Registrar of Joint Stock Companies and Firms (RJSC). Once the subsidiary is established, procedures for onboarding employees onto the company payroll in Bangladesh include:

  • Verify the individual’s 12-digit e-TIN (Tax Identification Number) and register them with the National Revenue Board (NBR)
  • Register employee with the Ministry of Social Welfare
  • All employees, foreign and local, must have a written contract or at least a mandatory letter of appointment
  • If employing foreigners, a 100% foreign-owned entity must deposit €45,345 (US$50,000) through the Registrar of Joint Stock Companies. This requirement also applies to branch or representative offices

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