Hire your remote team in India

Only 349 EUR per employee per month

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Hiring a remote team in a country as India comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in India. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

A remote team

1. Hire a remote team in India with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in India, particularly if you don't have established local relationships. You can hire employees in India effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in India.

As an employer of record, we help you hire employees and run payroll services in India, allowing you to avoid the necessity of first establishing a branch office or subsidiary in India.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in India or individually hire remote employees in India, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record India services can best help your company!

3. Hire a remote team in India

According to the India Skills Report 2021, recruitments will grow by 4% in 2021. In the past year and a half, the country's cross-state and cross-border employment has increased due to the rise of the remote work culture and a strong digital infrastructure.

According to the Skills Report, about 40% of the country's employable talent is between the ages of 18 and 21. The research covers the current talent gap as well as the need to upskill the country's talent pool. It is estimated that India would have 45.9% of employable youth by 2021.

4. Cost of living in India

The cost of living in India is $416, which is $2.24 less than the global average. India ranks 190th out of 197 nations in terms of cost of living and 85th in terms of quality of life.

In India, the average after-tax wage is $620, which is adequate to pay living costs for 1.5 months.

5. Cost of renting in India

The following is the total cost of living in India:

- A single person's monthly expenditure in India is projected to be INR 24,167.77. (excluding the rent). This works out to USD 315.64.

- Every month, a family of four will spend around INR 84,088.68. (excluding the rent). This totals USD 1098.24.

- The average rent in India for a one-bedroom apartment in a city center is around INR 11,910.85 or USD 155.56, while it is about INR 7,464.35 or USD 97.49 outside the city center.

6. Major industries in India

The Government of India (GOI) has encouraged international corporations to establish subsidiaries and facilities in India via the Make in India and Digital India programs.

According to the India Brand Equity Foundation, the GOI intends to invest USD 36 billion, or INR 2.65 lakh crores, in industries like as tourism and aviation, housing, and construction to generate jobs.

Furthermore, the GOI has pledged to provide around USD 27 billion in progressive production-linked incentives (PLI) over the next five years in order to generate employment in the nation.

The manufacturing sector has been given a boost by the Make in India project, which aims to contribute around 25% of GDP.

The government of India has fostered development in the digital economy. It intends to concentrate on three key areas: developing digital literacy, concentrating on digital service delivery, and upgrading the country's digital infrastructure.

According to the Speedtest Global Index, the average download speed on fixed broadband in India is 53.90 Mbps. Fixed broadband upload speed is 50.75 Mbps.

Pharmaceuticals, software and services, fast-moving consumer goods, chemicals and petrochemicals, automobiles and auto components, construction and engineering, financial services, food and beverages, textiles, apparel and accessories, and real estate are the top ten industries in India, according to the Hurun Report.

When deciding to engage a local labor, please do research on the top sectors in India where organizations hire remote workers in a given targeted region.

7. Hiring cost in India

The cost of acquiring local personnel in India is critical to your growth goals. The cost of recruiting in every place is determined by the cost of living, rent, grocery and restaurant bills, and local buying power. For example, while employing an employee in Gurgaon or Mumbai, you must consider the true hiring expenses, which include

- Costs of recruitment, including interviews, screening, and hiring

- Onboarding expenses

- Costs of missed opportunities

8. Employment laws India

Employers are required to offer provident funds, pension funds, and insurance under the Employees Provident Funds and Miscellaneous Provision Act of 1952.

The Industrial Disputes Act of 1947 protects industrial harmony and peace. It provides a system for researching and resolving workplace issues.

The Maternity Benefit Act of 1961 controls women's work by providing leave before and after childbirth.

The Indian Contract Act of 1872 governs and is legally binding on employment contracts between two parties.

The Stores and Commercial Enterprises Act governs the operation of all commercial establishments, including shops and offices.

The Factories Act of 1948 governs factory health and safety.

9. Top skills India

Three hundred million individuals between the ages of 20 and 34 provide a massive talent pool that cannot be overlooked by organizations seeking worldwide development. The availability of employable talent makes India a desirable employment market. In addition to these figures, another 250 million individuals in India are between the ages of 10 and 19 and will be employable in the next five to ten years.

India’s top skills are:

- Technology

- Finance

- Media and entertainment

- Law

- Energy

- Real estate

- Statistical analysis

- Banking and financial services

10. Economic landscape in India

Prior to FY17, India had a noteworthy growth rate of over 8.3%. Between FY17 and FY20, the growth rate slowed to about 4% due to COVID-19 and the 2020 national lockdown.

11. Market size in India

According to the McKinsey Global Institute, India would need to generate around 90 million employment in non-agricultural industries between 2023 and 2030. According to estimates, the net employment rate should rise by 1.5% to keep GDP rates stable between 8% and 8.5%.

12. Minimum wage in India

Minimum wage laws in India vary by state and sector. For example, state governments set a separate minimum wage for the agriculture sector. Employers are required to provide employees with payslips, and it is common for employers to pay employees directly from their bank accounts.

Employers typically pay employees on the first of each month. According to the Wages Act, all businesses with fewer than 1,000 employees are required to pay wages on or before the 7th of each month, while businesses with more than 1,000 employees are required to pay on or before the 10th.

Salary inflation is prevalent in India, with employees anticipating an annual increase in title and wage of approximately 10% to 15%. While India's compensation laws do not require this increase, employees who do not receive one are likely to seek alternative employment, particularly in the technology sector.

13.Why choose Rivermate to hire your remote team in India?

Establishing an entity in India to hire a team takes time, money, and effort. The labor law in India has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into India simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in India give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in India via our Employer of Record (EOR) / PEO solution.

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