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India

Buoyed by a large and rapidly expanding middle class, India has become the go-to source for talent in Asia. As incomes have risen, Indians now buy more higher-value and processed products, opening up opportunities for foreign suppliers. The growing tech sector combined with the low cost of operation, including everything from infrastructure to salaries, also makes the country an attractive choice for setting up a business.

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At a Glance

Local Bank Acct.

Yes

Representation

Yes

Local representation

PAYROLL FREQUENCY

Monthly

Local Registration

Yes

EMPLOYER TAXES

12.05%

Of Gross Salary

13TH/14TH SALARY

N/A

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Global Payroll/EOR

HSP Group provides full service international payroll processing to ensure that your employees’ pay is calculated correctly, your employees are paid on time, every time, and all required payroll compliance filings are managed seamlessly and efficiently.

Our services include standalone payroll, Employer of Record (EOR), Professional Employment Organization (PEO), Non-Resident Employer payroll – circumstances and local law permitting, – Employment tax guidance, and employee expense report support.

HSP Group also provides Payroll Project Consulting Services to support our clients in every phase of their international expansion journey, by providing qualified, highly experienced, best in class Project and Program Managers as an extension to your team. Our experienced Payroll Project consultants can conduct international payroll vendor assessments, provide transition project staff augmentation and support with HR/Payroll process creation and optimization.

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HR Technical Consulting

HSP Group’s technical consulting services address the challenges facing today’s global marketplace by assisting clients in establishing the appropriate structures to manage and support their workforce.

Our expertise spans the employee lifecycle … by focusing on industry best practices we support our clients drive to attract top talent by advising on country-specific HR and Employment best practices, compensation and flexible working packages, understanding benefits requirement and benefits sourcing, performance management, leave policies and termination/redundancy assistance.

We know the daily challenges that come with managing a global workforce. With compliance in mind, we help clients to design a recurring HR administration function and provide guidance on a variety of employment matters that arise in a changing environment. We are your ‘phone a friend’ local expert.

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Global Mobility

Managing a mobile international workforce, whether for short-term or long-term assignments, can add further challenges to your HR function. Through our Global Mobility Consulting group, HSP supports your company’s global mobility and expatriate strategy needs, and help you navigate the complex home, host and cross-border country requirements.

HSP Group helps you prepare to send an employee overseas and helps you and the employee stay compliant while living and working abroad.

From assignment letters, company relocation policies and secondment agreements to immigration assistance, shadow payroll support and hypothetical tax calculations, our Global Mobility experts understand the nuances of having globally mobile employees.

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HR Administration

Designed to extend your in-country HR capabilities, our HR Administration services provide recurring HR support to address those common challenges associated with hiring, onboarding, paying, providing benefits, offboarding and answering the myriad of employment-related questions for your international employees.

By syncing up both the HR and the Payroll function, we ensure that you have a seamless and comprehensive solution that allows you to be informed and compliant while your employees can focus on their day-to-day responsibilities and feel confident that their pay and benefits are well taken care of.

Whether you need full support for those locations with small employee populations or whether for those jurisdictions where you don’t have local HR staff to supplement your Global HR Team, our HR Admin solution allows you to spend your time focusing on the more strategic HR initiatives and leaves the recurring HR matters to us.

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India Awaits Your Business

Experience HSP Group's expert solutions for cross-border payroll, and entity management solutions. Simplify your complexities abroad.

Good to Know

  • The largest democracy in the world is also a profitable market for international companies. India’s young population, flourishing financial capacity, and skilled, affordable labor all serve to attract foreign investors. As the fifth-largest economy in the world, India has officially surpassed the UK.

  • India has become a powerhouse of technology innovation, noting the sharpest rise among Asian economies on the annual World Competitiveness Index. The Indian tech industry generated a total revenue of $227 billion in 2022. The country is currently home to an impressive 108 unicorns (startups valued at over $1 billion).

  • India’s numerous bilateral and regional trade agreements drive foreign investments. With initiatives such as Make in India and Digital India, the government is working to further enhance the business climate. In addition to preferential tax rates on the trading of goods for member countries, the agreements enable increased economic cooperation across areas like services and intellectual property.

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Top Challenges

Payroll Compliance

Ever-changing regulations, including complex tax rules, make payroll compliance a major challenge. Statutory compliance, labor laws, and state regulations — to name a few — are prominent and must be followed. Failure to comply can expose the organization to lawsuits

Inconsistent Bookkeeping

Bookkeeping tends to be a low-priority task for small businesses in India, although it’s critical to success regardless of company size. Many business owners fail to understand that consistent bookkeeping can strengthen their decision-making and make a positive impact on business revenue. The small business carries a huge potential and would benefit from establishing basic financial hygiene.

Employee Retention

Young talent in India generally prefers a healthy work-life balance over benefits. The demands of the younger cohort have become a growing challenge for HR departments. HR now has to try to set realistic expectations while providing a work culture that counteracts the trend of job hopping.

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Next Steps

  • Expanding into India can be incredibly rewarding — but the complexities cannot be overlooked. Our team of local experts are here to support your Indian operation, every step of the way.

  • We pair our expert-led managed services and technical consulting with GateWay, our global expansion management (GXM) system. This pioneering platform puts your global footprint at your fingertips, empowering you to expand with ease.

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Learn More About How We Can Simplify Your Expansion Goals

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