Times are uncertain. We have just had a year-long pandemic. There is a war going on. There was a severe earthquake in Turkey and Syria. The geopolitical situation continues to be volatile with several nations on the brink of bankruptcy and civil war. There is an impending recession. In all this chaos and uncertainty the IMF’s latest Outlook said, India retains the crown of “a bright spot”.

1. How does Remunance PEO/EOR look
after you?
Times are uncertain. We have just had a year-long pandemic. There is a war going
on. There was a severe earthquake in Turkey and Syria. The geopolitical situation
continues to be volatile with several nations on the brink of bankruptcy and civil
war. There is an impending recession. In all this chaos and uncertainty the IMF’s
latest Outlook said, India retains the crown of “a bright spot”.
The impact of hiring
It is not surprising that recruiters in India are busy hiring talented Indians to work
for their foreign client’s companies.
This is not as straightforward. For foreign companies that have a local entity in
India, there’s no problem. They can simply hire people in their Indian entity.
However, for companies that don’t have any footprint in India, it is a challenge.
Generally, to around this issue, foreign companies hire professionals directly as
freelancers or contractors. Sometimes they hire professionals through other local
Indian businesses, like for e.g. their outsourcing partner. While this may seem fine,
it creates an administrative nightmare for foreign businesses.
There seems to be little attention paid to hiring Indians directly, in a way that is
compliant, sustainable and beneficial to everyone involved.

2. Remunance leads the way
At Remunance, we don’t mind becoming a torchbearer, a pioneer of PEO services
in India.
We sat our legal and finance teams down to figure out how to hire properly. They
researched various business models including the overseas PEO, and EOR industry
models and came up with PEO services in India.
The DPIIT recognised Remunance
Recently we got recognised by the Department of Industry and Internal Trade
(DPIIT), Government of India, as a scaling ‘Startup’ under India’s
prestigious Startup India program. Click here to learn more. Startup India is a
program envisioned by Prime Minister, Narendra Modi, intended to grow the
startup ecosystem and drive economic growth and generate employment in the
country . This recognition is a testament to our company’s commitment to creating
jobs and contributing to the growth of the economy.
How does Remunance look after your remote
employees?
Here’s a quick overview of some of the initiatives we have implemented for your
remote employees working with us.
Salaries
Remunance gives market-linked salaries to employees.
As you can anticipate, there is a large range of salaries for every technical position.
Largely due to factors like their years of experience, overseas experience, mastery
of the craft, local or overseas degrees and qualifications, cost of living, current
salary level and the capacity of the new employer to pay. However ultimately, it all
boils down to the “market”. The national average removes much of the noise to
give us a good sense of the salary paid to the individual. Remunance matches the
national average in more than 90% of the cases.
If you are an owner of a business in the west then even this national average is
significantly lower than the salary you pay in your country. And depending on
which country you are from, this figure can be as low as one-third to one-fourth of
your local salary bill.
Surprised? Click here and drop us your details. We will get back to you and answer
all your queries. Alternatively, click here to set up your zero obligations meeting
with our friendly and experienced consultants.

3. Benefits in India
In India, employees are entitled to receive gratuity and medical insurance.
Remunace pays both.
Gratuity
Employees completing five years or more with a business are automatically
entitled to receive gratuity. Gratuity becomes part of their monthly salary. It is a
benefit designed to help employees who are retiring.
It is one-fourth of their last-drawn basic salary, paid half-yearly after completing
their mandatory period of 5 years of employment with the employer. The gratuity
amount payable at retirement is 16 times their basic salary and is subject to a cap
of ₹ 20 lakh.
Insurance
Medical insurance was made compulsory by the Indian government. Until April
2020 i.e. post-COVID-19 it wasn’t. Remunance is a compliant employer. We buy
employee group health insurance for all our employees.
‘Group Insurance’ is different from the typical individual or family health
insurance. Group insurance is available to employers who insure their employees
in bulk. They receive discounts on their insurance premiums.
It’s a win-win-win! The employer wins due to the discounted premium. The
employee wins from wider and/or superior medical coverage, and the insurer
wins because they get a large number of employees in one go.
Self-esteem
More than 90% of Remunance’s employees work for a foreign company, our
clients. Employees working for a foreign company tend to have better self-esteem.
There are several soft benefits and development opportunities. For example, there
is an exchange of cultural ideas apart from technical ideas. Employees learn from
native English speakers and develop their communication skills. They learn new
skills and best practices. Their worldview broadens along with their professional
network. Working with a foreign is good for their resume as they are seen to have
an edge over their competitors.

4. Employee happiness is easy!
Our HR team listens to our employees. We actively consider their suggestions. The
management takes time to provide feedback. Employees also receive expert advice
and guidance when necessary.
Our employees receive salaries on time. This may seem trivial but it is an
extremely important issue for salaried workers.
Employees receive policy-based bonuses. This goes a long way in boosting their
morale as they feel appreciated.
Employees get trained. Our HR team actively works with employees and clients to
plan training programs. Employees become more productive and valuable.
They develop an affinity for the company when they receive little things like a
surprise gift and a birthday card on their birthdays.
When our efforts improve our employees’ morale, we simply say, thank you!
Click on the below if you would like us to get in touch with you, or learn more about
our PEO/EOR service.
Blog link: https://remunance.com/blog/how-does-remunance-peo-eor-look-after-you/
Website link: https://remunance.com/