Everything you need to know about running payroll for your globally distributed team.
Each country has their own laws regarding employee payroll and benefits, and companies can face expensive fines and lawsuits if they do not comply. Skuad does the heavy lifting for you by managing pension funds, social security, employer taxes and benefits, in compliance with the local employment laws of the employees’ country.
In most cases, foreign employees are governed by the laws of their own country or the country they are tax residents of. Employers must process salaries according to the local employment laws of the employees’ country. As each country holds its own set of employment laws, meeting compliance demands is essential to avoid fines and penalties.
Salaries of international employees solely depend on the payroll benchmarking model followed by the company. While a few companies pay all their global employees the same wages, some might decide the pay based on specific factors like cost of living, location-specific parameters, etc. Usually, companies pay employee salaries at par with the salaries in the country of residence.
Skuad promises secure payments by maintaining the highest payroll security to protect you from any liability. Our multi-layered security processes ensure that your money remains safe and is paid to your workers on time.
Skuad’s unified platform lets you easily manage employee payroll and contractor payments in their currency of choice. All you have to do is make a bulk payment to us, and we’ll make sure your team gets paid accurately and on time.
Yes, Skuad manages payroll for full-time employees as well as contractors. We also take care of payroll, taxes, benefits, and more for your subsidiary through our payroll platform.
Gross salary is the pre-tax amount paid to employees, including mandatory taxes, social security contributions, and income tax, which depends on the country’s local laws as well as the employees’ tax condition.
Net salary is the amount paid to employees after the tax deductions. The net salary varies according to the country’s legal law.
Each country has its own set of laws on the taxes, deductions and benefits for employees. Skuad ensures your employees’ payroll is processed with the right tax deductions and provides benefits such as medical, PTO, insurance, etc., that comply with the country’s local labor law.