According to Goldman Sachs, India, the redeeming golden bird, can be the second-highest economy by 2075. A splendid time to invest in India as a venture capitalist and start your operations/venture. But you need one more ally to help you start the operations seamlessly. PEO Service Providers in India.
What exactly will a PEO service provider in India do?
PEO service providers in India will start your operations on your behalf. First, they will understand the business potential of your product. Align the business plans and understand the type of talents you will need. Then start with the work.
They will hire staff on your behalf. Offering rapid market entry, assistance with recruitment if needed, and full compliance with local laws. Therefore seamlessly onboarding talent for you.
Hiring staff through PEO, a professional employer organization, can be your best decision.
It implies you will not need a local entity to start a business in India. You can start your work when there is staff, which your PEO service provider in India is taking care of.
Once hired, the staff will report to you. On paper, you and the PEO service provider in India will be their co-employer. They will take care of their onboarding, payroll, and eventual offboarding, as well as guarantee adherence to all relevant regulations. Meanwhile, compliance and administrative headaches are not your problem.
On the flip side, as a business owner, if you are still on two minds about starting operations. You can always use PEO services to ascertain the market before company formation and bring staff members in-house. If you plan on short or medium tenure, PEO service providers in India can provide a convenient and agile solution to meet their needs.
Let’s give you more ideas on the PEO model.
It is founded on the concept of co-employment and prioritizes job performance. While establishing a co-employment relationship with its clients to transfer corporate liabilities, including
- workers’ compensation,
- payroll,
- tax forms,
- perks,
- PTO management, and
- other administrative charges.
Therefore recruiting the right talent can become an asset for your organization. These assets collaborate and carry out basic responsibilities with the help of technology, systems, and connections. They interconnect and influence one another. Thus, peer learning and peer motivation help run the company, While the company heads can focus on other parts that need their complete attention.
Indian PEO service provider will help you enter the massive market while adhering to compliance loopholes. But why India?
India, the destination for Business operations
With a population of 1.41 billion people in 2022, India is the second most populous country in the world, expecting to overtake China to become the most populous by 2030. Currently ranked in the top five economies in the world based on GDP, surpassing the UK economy in 2022.
India’s economic growth has risen from ashes since the turn of the century. Increasing almost 700% between 2000 and 2021. Only registering a decline during the financial crisis 2008 and the COVID-19 pandemic in 2020. The country has a mixed economy.
With agriculture contributing 17% of GDP and industry accounting for close to 26%, India is jumping leaps and bounds in these sectors. The services sector has importantly gained more, with 48% of GDP. It has gained more since 2021.
Recent years have seen the IT sector grow exponentially and become an asset to the economy. With the sector rolling out general IT services, IT-enabled services (ITES), and e-commerce, as well as software and hardware product development.
Today India’s IT sector has a global reputation to uphold, with many skilled professionals turning out every year. Since we are also an English-speaking country, particularly IT service professionals, hiring them is not a hindrance.
The above is just a bifurcation of the services sector. We have natural resources. Petroleum and diamonds are the most valuable exports, along with jewellery, medicines, and rice. India is the biggest exporter of diamonds, rice, shellfish, raw cotton, and pepper.
Truly indeed, a mesmerizing country with huge potential for talent. Wait a minute, we said about hiring the right talent. How do we do it?
Hiring Right Talent needs by PEO service providers in India.
We have said this numerous times. PEO service providers in India are referred to as an employee leasing company or EOR service. Indian PEO will hire staff.
They have an established recruitment network that will be able to harness the right talent you need. In short, they will have staff lined up to employ. It will include the
- expert knowledge of the best educational institutions.
- Understanding of the profiles to seek out.
- Guarantee that you are presented with high-calibre candidates to fill the needed roles quickly.
As part of the services agreement you are signing, your PEO service providers in India will guarantee that all relevant regulations are implemented. At the same time, managing the payroll and other aspects of the administration of the selected staff. Additionally, there is a navigation of complicated and unfamiliar laws, which can be a barrier to overseas expansion.
Partnering up with a PEO services provider in India will mitigate and eliminate a significant source of risk. But everything comes at a cost.
Cost Of PEO service providers in India
Hiring an Indian PEO is a cost, albeit a lower one. Indian PEO is based on a monthly fee per employee. However, the cost is significantly lower when you compare the cost of setting up and running a legal entity. Moreover, it gives convenience in offering rapid exit from the market if giving quick entry.
Further, if you continue your operations and establish an entity and also begin hiring staff directly, an India PEO will still potentially be of use. PEO services provider in India often offers direct hires recruitment services.
Additionally, be supportive of gaining visas and immigration for overseas workers. Conversely, Indian PEO will initially partner with you on hiring staff on your behalf and continue to assist when that service is no longer needed.
If you choose PEO service providers in India, it will also operate partnerships in other markets if and when your business expands elsewhere. They will be with you through thick and thin.
Speaking of which, there are employment regulations that an Indian PEO will oversee.
Employment Regulations taken care of by PEO service providers in India
Following are some employment laws catered by PEO services providers in India.
Cautionary Note: laws and regulations vary from Indian state to state. So the below information is a general guide. Your PEO service provider will be the best entity to provide accurate information based on where you intend to do business.
Working Hours:
Indian Labour laws will be changed in 2022. In comparison, the maximum working week continues to be 48 hours long. But daily hours increased from 9 to 12 hours. Therefore allowing workers to perform a four-day week while completing full-time hours.
Overtime:
According to Indian labour law, workers working beyond the maximum weekly limit should be paid for the additional hours. The rate will be double the standard rate. PEO services providers in India will oversee and bill you for this aspect of the work.
Personal Leave:
Under the 2022 revised labour code, adult workers are privileged to one day of leave for every 20 days worked. Young workers are entitled to one day of leave for every 15 days worked. Workers can claim leave after being employed continuously in the same organization for six months. Up to 30 days of leave can be carried forward from one year to the next. A provision your Indian PEO will oversee.
Sick leave and casual leave:
Sick leave is granted for unforeseen circumstances. That varied from five and 12 days per year. Again depends upon the organization and the location of the business. Your Indian PEO will give better advice on this matter.
Public holidays:
As an organization, there are 14 mandatory public holidays celebrated nationwide. Additional three can be inculcated depending on the state where the business operates. Also, there is an additional public holiday celebrated depending on which state you are in. Again PEO service provider will be the go-to to provide guidance.
Terminations and notice periods:
There is no standard process while handing out termination or notice periods. However, it is laid out in the employment contract. But seldom is it followed.
As a normal practice, terminations and resignations among skilled professionals will often stand at 90 days. In many cases, termination can be immediate. The reasons could be gross misconduct or professional negligence.
The Indian PEO will consult you during the contract drawing process. It will guarantee that all employees will be issued a document suited to their needs and standard industry practice. Also, the PEO will work with future employees on a tactical and operational level.
We have lauded PEO service providers in India at every turn. But it comes with its share of disadvantages.
Disadvantages of Professional Employment Organization (PEO)
Due to the outside company’s input and working culture, there will be an impact. Command over particular procedures in one business can be jeopardized. Further, when businesses use PEOs, their inherent HR departments lose value. It can later pose problems.
Advice: Keep your HR department in the loop regarding various developments in the business. As well as encourage them to focus their attention on upskilling employees through various webinars and courses.
There is a loss of privacy with employee paperwork. Employers must share personal details and most employee documents with PEOs. It could turn out to be a threat soon.
Moving on from disadvantages, we have lined up the best PEO service providers in India for you. Watch the below video to get better knowledge:
https://youtu.be/KQQ2BSndNxA
There are 17 of them. But with choices comes more problems in decision-making, without further ado. Let’s get to the show.
Best PEO Service Providers in India
Supersourcing
The current favourite of India in PEO Service Providers in India is Supersourcing. Trusted by 24 Unicorns, 132 Y combinator-funded companies and 17 Fortune 500 companies. It is a go-to PEO for hiring the world’s highest-rated remote engineers.
Leading global brands trust the company to provide the best recruits. The brands include:
- Unzo,
- Adani,
- Uber,
- Swiggy,
- Spotify,
- GitHub,
- Amazon,
- Airbnb,
- Yellow.ai,
- Paytm & many more.
What Indian PEO is offering?
Pre-Vetted Engineers:
Supersourcing provides pre-vetted engineers who have a 100% productivity guarantee. Therefore ensuring quality work. They also give an offer of temporary service for a two-week trial. Access to a vast pool of skilled engineers who will be a great addition to a robust team.
- Comprehensive Management:
SuperSourcing handles every back office requirement, from sourcing, vetting, background checks, timesheets, monthly ratings, taxes, compliances, agreements, and security. They will give personalized assistance from top representatives/managers.
- Expertise and Experience:
They have 14+ years of hiring research and insights. Gathered from 12,000 top hiring leaders and CTOs worldwide.
2. Vipany management consulting
One-stop shop for global Recruitment and talent hiring solutions. Though listed as number two, it is a captain in assorted organizational requirements by mapping the talent pool. Aligning them with the current organizational opportunities and challenges provides the best in class.
Human resources that are aptly fit for the job as if tailor-made for the organization. Therefore bridging the expectations in work performance between Employer and the potential candidate.
USP of the PEO service provider in India:
They know the market insights of any industry like the back of their hand. They are well-equipped with research on the talent landscape by location, skill and organization. These exceptional competencies are always put into motion.
Their in-house developed talent concepts define their passion for “Talent Mobility”, a key elixir for business success. The above work description and providing competent talent is a daily routine for them.
3. MME
One of India’s leading Human Resource Companies with every HR solution under its expertise. Started in 1994, MME is based in Delhi and boasting a clientele of 1000+ globally.
Services included:
- professional employer organization and top management staff,
- Payroll outsourcing services,
- Staffing services,
- International recruitment consultants,
- Employer Of Record Services and
- other HR management solutions.
Twenty-seven years in the business and providing HR solutions is their USP. Though the venture started its operations in 1994, it quickly gained industry respect and popularity. By 2000, they started to spread their wings internationally.
Therefore became a well-known Overseas Manpower Recruitment Company and Payroll service provider to prestigious companies. Their niche is in every industry, from engineering, medical, IT, manufacturing, and many other professional sectors.
They are a go-to for international recruitment and staffing requirements from onshore to offshore locations like Singapore, Malaysia, UAE, Saudi Arabia, Australia, USA, UK, European nations, and some exotic islands like Malta, Solomon, Malawi, Etc. The MME team is a successful caterer to every business that wants quick and effective solutions.
What’s more
They have launched a fully-fledged new division of MME. They will integrate new sources of development and charter into new territories. Providing top-notch business is their motto. Therefore being proud of building a long list of happy & satisfied clients.
- Yunic Solutions
Yunic Solutions specializes in HR Consultancy services and provides them to small businesses and startups. They have a 3-step profile filtration system as they believe in giving quality service to the organization that truly needs Yunic Solutions.
The filtration system is also a mechanism to filter out the candidates for recruitment processes. Therefore ensuring quality workers are being provided to top-notch industry CTOs. Their team is well-behaved and professional in their work.
- GFL Recruitment Private Limited
The ultimate growth partner who believes in generating leads for your business. Yes, this means GFL also helps in bringing business. At the same time, finding potential hires who can be an asset to the company. Also, helping you with the onboarding process.
They also help in social media marketing. While writing, engaging long-form content(1000+ words) to maximize conversions. It will include Keyword Researching and finding opportunities online for Sales OR branding.
4. Paysquare Consultancy Limited
The sixth on the list but gives the best Global Payroll, HR & Accounting services. It is a payroll processing and compliance management company based in India. Offering:
end-to-end payroll solutions, - including salary processing,
- tax calculation,
- leave and attendance management, and
- statutory compliance services.
end-to-end payroll solutions,
The services are designed to cater to payroll processes and streamline businesses with compliance. Ensuring local laws and regulations are adhered to. The company has footmarked its presence in various industries. Like:
- IT,
- healthcare,
- manufacturing, and more.
The team of experienced professionals with advanced technology is a deadly match. With this acumen, they are providing their clients with accurate, reliable, and timely payroll solutions.
5. Staffio HR
It is a branding company that bridges the gap between social media influencers to collaborate with emerging brands/ trusted brands. Their sole aim and expertise lie in the creation of brands. They power the brand with brilliant candidates and amp up the growth power.
6. Acreaty Management Consultants
An out-and-out reputed Manpower Consulting and HR Solutions company. Being operational since 2001, but industry captain in Payroll, Outsourcing, Staffing Solutions and Executive Search.
7. Integrated Resources Inc
An American staffing company started its operations in India. They have spent two decades streamlining the hiring and job-hunting process for people and companies nationwide. It provides acquisition solutions to high-powered companies in the Life sciences, Healthcare and Technology industries. They want to provide effective solutions to companies who want to simplify their talent acquisition process to facilitate growth.
The Recruitment process boasts of a proprietary, best-in-class selection process that connects reliable candidates with a unique hiring need. Therefore allowing the company to grow an
exceptional workforce without the headache of going through CVs.
8. New Horizons
The main concern at this PEO provider is business. Their core expertise lies in providing an effective team. They know the value of Human resources, a business pillar. Without the help of human resources, it is impossible to take the company forward in its growth.
The diversity and strength a team provides ensure that the company is on the path of progress. It clearly states that the best resource should be recruited. The team of HR consultants understand the business’s pain points. The pain points convert themselves into giving the best solutions.
9. Auwaroo International Private Limited
The company aims to transform the Global Workforce. They are the leading player in the HR recruitment ecosystem. HR technology has been the key player in helping global clients build their workforce.
Therefore giving valued knowledge in optimizing and building their diversified workforces, work culture, and talent. They are the leader in multilingual recruitment for MNCs in India, Japan, UAE, Canada, and other parts of the world.
Aurawoo provides various solutions, including temporary and permanent Staffing, outsourcing and other workforce solutions in engineering, healthcare, finance and accounting, human
resources, IT, manufacturing and logistics, and sales and marketing.
10. KVB Staffing Solutions
The core expertise lies in growing the business. The company started to provide customized solutions in HR matters. They analyze the concerns and provide solutions accordingly. They have a cumulative experience of 10+ years in HR operations & Talent Acquisition. They have experience in the HR field. Though a new company, if compared with other veterans. But with proper guidance and mentorship, they have shown the fastest growth. They have a registered office in Bangalore.
11. PACE Recruit
Pace Recruit is a full-throttle recruitment agency. Their expertise lies in finding the right talent which can be helpful to you. They offer
- Talent Acquisition,
- People Analytics, and
- Learning & Development services to our clients.
Their core USP lies in catering to every field and industry. The services extend throughout India, South East Asia and the Middle East. They specialize in
- Permanent Staffing,
- Contract Staffing,
- Technology Staffing,
- Executive Staffing, and
- Expat services.
- Outplacement and RPO solutions.
12. Innovsource Service Private Limited
Innovsource is a people partner and a leading staffing provider in India. The company comes with over 18+ years of experience. They have mastered the art of workforce business. Focussing on nuances of hiring and workforce management.
The services include:
- general Staffing,
- integrated facility management,
- apprenticeship,
- managed services,
- permanent Staffing,
- skill development and
- HR technology services.
13. Shreshtha Business Solutions
SBS is a highly respected provider of payroll services for small, medium, and large organizations worldwide. They have assisted numerous firms in India and overseas. Their expertise lies in simplifying payroll processes and keeping the workforce happy. It is a no-brainer that choosing the proper HR & Payroll service provider is essential.
Engaging and developing your People as human resources become a crucial strategic component within enterprises. They attract the right client talent by automating HR processes and promoting business advantages across functions.
Their services are as follows:
- Payroll Outsourcing
- Talent Acquisition
- Professional Employer Organization (PEO / EOR)
- Compliance with Risk-Free Labor
They greatly value customer service and keep investing in broadening the service range. They want to provide a premium and unsurpassed level of support to businesses of any size.
16. Pocket HRMS – Payroll Software Provider
Pocket HRMS is tagged as the “next-gen and leading HRMS software in India”. Their exclusivity lies in combining the strength of Cloud and Mobility.
Pocket HRMS is an end-to-end HR Payroll solution. Designed to address the various challenges and pain points of human resources management for companies of all sizes and verticals. Though headquartered in Mumbai, have a PAN-India presence with offices, vendors and channel partners in Chennai, Kolkata, Bengaluru, Delhi, Pune, Hyderabad, and Gurugram.
17. Eajami IT solutions
They bring joy while caring about every business’s needs. As an out-and-out information technology-enabled service provider dedicated to converting clients into lifelong customers. Through trustworthy outlook and value-driven communication.
Utilizing BPO technology as the armour, they strive for top-notch performance. Providing clients with effortless access to their data. They have a quenched thirst for innovation and are punctual and reliable in support of our client’s success.
Signing Off
The above PEO service providers are pioneers in their respective fields. They offer competency with a personal touch. With their business acumen, you can transform your business into the brand you always wanted. But pursuing due diligence regarding business decisions, regarding hiring and firing should be your core responsibility.