In 2021 the Republic of India was among the world’s fastest-growing economies at 9.5%, while a nominal Gross Domestic Product (GDP) of 2,946 billion US dollars ranked sixth in the world and accounted for over 3.0% of the global economy.
These are among the attractions that draw international corporations towards India’s economy. Foreign companies hiring staff in India and intending to operate payroll for their team face a mass of complexities and not just at the federal level. The first step is to set up a legal entity in the country – potentially an exhausting and time-consuming operation – then comes a multi-layered registration process. Employers and employees each need tax and social insurance numbers. And that is just the start of the registration process. India’s 28 states can also apply their own rules.
Setting up a subsidiary in India to run payroll is one option, but this involves a protracted registration process and poses many challenges. Our Professional Employer Organisation (PEO) and Employer of Record (EOR) services provide complete solutions to every issue your company will face before your planned move into the Indian Market. Our teams step in from the start, locating top-rated talent in India, then guiding you through such procedures and navigating the administration of the Indian payroll system for you.