Employer of Record Bangladesh
Last updated
- Capital City
- Dhaka
- Languages
- Bengali
- Currency
- Bangladeshi Taka (BDT)
- Population Size
- 174.7 million
- Employer Taxes
- 7–8% of salary
- Employee Costs
- 10-12% of gross salary
- Payroll Frequency
- Monthly
Hire Globally, Pay Locally, Expand Effortlessly
We are your Employer of Record in Bangladesh, the perfect partner for enhancing operational efficiency while still ensuring total local legal compliance. Collaborating with our experienced Employer of Record in Bangladesh allows you to effortlessly recruit and manage employees without establishing a local entity. This approach expertly navigates the complexities and challenges typically associated with international expansion.
By operating as the local employer of your staff, our dedicated Employer of Record in Bangladesh takes on full responsibility for all HR-related functions on your behalf. This enables you to enter new markets in as little as a week, effectively reducing both the time and costs associated with expanding your business overseas.
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Why Choose an Employer of Record in Bangladesh Over Company Incorporation?
Creating a new company takes time but also adds to the expansion cost in Bangladesh. Employer of Record services simplify the process and allow you to expand in less than a week.
Working with a Bangladeshi Employer of Record…
- Saves time
- Lowers costs
- Ensures legal compliance
- Allows you to focus on growing your business
PEO/EOR Vs Company Incorporation
The Advantage in Figures
| PEO/EOR | Company Incorporation | |
|---|---|---|
| Price | 80% Less Expensive | |
| Market Entry | 2-5 Days | 6 Months |
| Employee Turnover | Decrease by 14% | |
| Recommendation | 98% of the Current PEO Clients | |
| Administrative Fees | Saves an Average of $450 | |
| Costly Payroll and Compliance Fines | Help Avoid | |
| Company Growth Rate | 7 – 9% | |
| ROI | 27% | |
| Closed During Pandemic | -58% | |
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The Advantages of Using an Employer of Record in Bangladesh
Legal Compliance Assurance
Utilizing global Employer of Record (EOR) services with extensive knowledge of the Bangladeshi market enables you to recruit and supervise an international workforce while maintaining stringent legal compliance. This proactive approach safeguards you from costly fines and penalties.
Lower Expansion Costs
Streamline global growth while substantially reducing the customary expenses associated with expansion through an Employer of Record. Bangladesh has a complex set of rules for foreign employers, so avoiding the need to establish a new entity in the region allows you to scale your operations without a major increase in overhead costs or complexity.
Focus on Growing Your Company
An Employer of Record in Bangladesh takes on the entire spectrum of HR-related responsibilities, streamlining your operations and freeing you to concentrate exclusively on the international expansion of your business.
Expand Effortlessly
Creating a new company in Bangladesh can be time-consuming, often requiring weeks to months of intensive administrative work. In contrast, collaborating with a local Employer of Record in Bangladesh expedites the expansion process, enabling you to enter the Bangladeshi market in as little as a week.
Manage Your HR Online
INS Global offers an efficient means for you to manage your diverse, global workforce online through a state-of-the-art online HR platform. With our cutting-edge cloud-based system, you can easily and accurately manage all your employees.
How Does an Employer of Record In Bangladesh Work?
INS Global’s Employer of Record in Bangladesh allows your company to expand internationally in just 4 simple steps.
- 1
We work with you to create a unique expansion plan.
- 2
Our organization provides the legal entity needed to recruit staff locally or transfer existing ones.
- 3
We handle HR-related tasks such as hiring, contract management, and payroll processing to ensure local compliance.
INS GUIDES
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Learn how the Labor Law Guide is applied in all aspects and situations, from an employer and employee perspective.
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Labor Law in Bangladesh
Employment Contracts in Bangladesh
- Employment in Bangladesh should always begin with a written offer of employment.
- Employers should always include a probation period of 6 months for clerical workers and 3 months for all other workers.
- The employment contract should include the nature of the contract and describe the employee’s role.
- An employer can end the contract early if the employee violates the conditions of their employment or probation contract.
- Employees are entitled to 60 days’ notice if the employer decides to make the role redundant. Full pay should be processed during this notice period.
- Severance pay is required for employees who have worked for more than 1 year. If the employee has served more than a year, they are entitled to 1 month’s salary for each year of service.
The working week in Bangladesh runs from Monday to Friday.
Full-time employees generally work 8 hours per day, 48 hours per week.
Part-time employees are expected to work 20 hours per week.
Employees are entitled to a higher hourly rate for overtime. This is generally 150% of the normal hourly rate.
Types Of Leave
Bangladesh has 15 official national holidays.
Employees are entitled to a minimum of 10 days of paid vacation.
Tea plantation workers are entitled to 22 days of paid leave per year.
Employees can receive more leave if it’s stated in their employment contract.
Employees are entitled to 14 days of paid sick leave per year.
Sick leave is dependent on the employment contract for each company and employee.
Sick leave cannot be carried over to the next year.
According to Bangladeshi law, female employees are entitled to 120 days of maternity leave.
Employees are entitled to 8 weeks of paid leave before the birth of their child and 8 weeks after. Unpaid leave can be taken after this duration.
There is no legal requirement for paternity leave in Bangladesh.
Tax Laws in Bangladesh
- Employers in Bangladesh are responsible for withholding all taxes.
- Employers and employees do not deduct or contribute towards a set social security plan but rather combine this within their taxes.
- The corporate income tax rate is set at 25% for listed companies and 32.5% for non-listed companies and small businesses. There is also a 2.5% surcharge for companies in the tobacco industry.
- Personal income tax depends on how much income is generated. The applicable tax rates are shown in the table below.
Income (Bangldeshi Taka – Tk) | Tax Rate (%) |
Up to Tk. 300,000 | 0 |
On next Tk. 100,000 | 5% |
On next Tk. 300,000 | 10% |
The next Tk. 400,000 | 15% |
The next Tk. 500,000 | 20% |
Any income above | 25% |
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Frequently Asked Questions
Global Employer of Record is an effective solution for companies looking to expand their workforce abroad effortlessly.
This approach allows you to outsource the international hiring process quickly and efficiently, providing access to a global talent pool while still managing payroll compliance in each country.
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