Welcome to EOR Partners’ India page. India, a rapidly growing economy with a vast pool of talent, offers numerous opportunities for businesses looking to expand globally. With its diverse market and strategic location in South Asia, India is an attractive destination for international businesses.
India is the world's seventh-largest economy and one of the fastest-growing major economies. It has a diverse industrial base, with significant contributions from sectors such as IT, telecommunications, textiles, pharmaceuticals, and manufacturing. India's large and youthful population provides a dynamic and skilled workforce.
1.417 Billion
Population
Rupee
Currency
3.417 Trillion
Global Domestic Product
Large Market: With over 1.3 billion people, India offers a vast consumer base and significant market potential.
Skilled Workforce: India produces millions of graduates annually, including a large number of engineers and IT professionals.
Economic Growth: India's economy continues to grow at a robust pace, driven by both domestic consumption and export-oriented industries.
Business-Friendly Policies: The government has implemented various reforms to improve the ease of doing business, including tax incentives and simplified regulatory procedures.
India's employment laws are designed to protect workers' rights and ensure fair treatment. Employment contracts can be permanent or temporary, with specific regulations governing each type. Employers must comply with statutory requirements related to wages, working hours, and conditions of employment.
Payroll Management: Handling payroll processing, tax deductions, and compliance with Indian labor laws.
Employee Benefits Administration: Managing statutory and additional employee benefits, including health insurance and provident fund contributions.
Work Visa and Immigration Support: Assisting with obtaining work visas and residence permits for international employees.
Compliance and Legal Services: Ensuring adherence to local labor laws and regulations to mitigate legal risks.
Health Insurance: Employers are required to provide health insurance coverage to employees under various government schemes.
Provident Fund: Both employers and employees contribute to the Employee Provident Fund (EPF), a mandatory retirement savings scheme.
Gratuity: Employees who have completed five years of continuous service are entitled to gratuity, a lump sum payment based on their tenure and last drawn salary.
Employees in India are entitled to a minimum of 15 days of paid annual leave. This is in addition to public holidays, which vary by state but typically include around 10-15 days per year.
Employees are entitled to a certain number of paid sick leave days, with the specifics depending on the employment contract and state laws. Generally, it ranges from 7 to 12 days per year.
The standard workweek in India is 48 hours, typically spread over six days. Employees are entitled to a rest period of at least 24 consecutive hours per week. Breaks during the workday are also mandated, with the specifics depending on the length of the workday.
| Taxable Base | Tax Liability | Excess of Taxable Base | Tax Rate |
|---|---|---|---|
| 0 - 2,50,000 | 0 | 0 | 0 |
| 2,50,001 - 5,00,000 | 0 | 2,50,000 | 5 |
| 5,00,001 - 10,00,000 | 12,500 | 5,00,000 | 20 |
| Over 10,00,000 | 1,12,500 | 10,00,000 | 30 |
*All figures based on local currency
