Why should I choose an employer of record?
The employer of record assumes responsibility for ensuring compliance with employment laws and regulations, including tax and labour laws. This can help you avoid legal and financial penalties for non-compliance, especially if you are not in Canada.
Do you offer flexibility in the number of contractors?
Yes, we can help businesses manage fluctuations in their workforce by providing payroll solutions for seasonal, contract, or temporary employees. This can help businesses respond to changing market conditions and maintain operational agility.
Is it cost effective?
Yes, outsourcing payroll administration tasks to an employer of record can be more cost-effective than hiring in-house staff to manage these tasks. This is because the employer of record can leverage economies of scale and expertise to provide these services at a lower cost than an in-house team.
What taxes and deductions should be withheld from employee paychecks?
Employers are required to withhold Canada Pension Plan (CPP), Employment Insurance (EI) premiums, federal tax, provincial or territorial income tax. If an employer offers group benefits or a pension plan, the employee's portion of the contributions may be deducted from their paycheck.
What are the consequences of payroll mistakes?
Payroll mistakes can result in financial penalties, legal disputes, and damage to the employer's reputation. Common payroll errors include incorrect tax withholding, late or missed payments, and misclassifying employees as independent contractors. It's important for employers to carefully review payroll records and seek professional guidance to avoid costly mistakes.