Employer of Record (EOR) - independent contractor compliance

By: Payment Services  09-12-2011
Keywords: Payment Services

Problem: Your company has additional staffing needs but may not need a full-time permanent hire.

Solution: Use of independent contractors to fulfill the requirements.

Risk: Misclassification of contractor and the associated fines and penalties.

Solution: Engage a PEO to deliver Employer of Record service.

Does your company use independent contractors (also known as 1099 employees or sole proprietors)? Independent contractors are a great way to address your changing staffing needs, but they also increase your compliance risk. If the government determines that you have misclassified full-time employees as independent contractors, . Visit our section to learn more about corporations that have recently realized penalties. In Canada and the United States PEO services are a valuable business partner, reducing misclassification risk and saving money with streamlined processing.

Our Employer of Record service eliminates this risk. Through this service, Payment Services Corp. becomes the employer of record for your independent contractors or all your employees, as needed.

Payment Services Corp. will then serve as the employer for the purposes of all federal, state, provincial, and local taxes, as well as employer-required insurance. Once processed and verified, these independent contractors can return to your workplace as Payment Services Corp.’s contract employee to your firm. The benefits of this service include:

  • Centralized Processing - Compliance

    Proper processing of all government and corporate paperwork
    Verification of background and pre-employment certifications (as applicable)
    Verification of employment eligibility (as applicable)

  • Consolidated Invoicing

    We consolidate all contractors/employees on one detailed electronic invoice

  • Electronic Timekeeping

    All time entry and approval can be accommodated by our web-based system and accessed 24/7 from any browser with an Internet connection

  • Expense Processing

    We consolidate all contactor expenses into one invoice. Expense tracking and approval can be processed electronically via our web-based system.

We can also use our purchasing power to offer these employees various other competitive benefits, giving you an attractive recruitment tool.

Keywords: Payment Services

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Human Resource Management and Adminstrative Support

Payment Services Corp. offers a range of valuable services designed to relieve mid-size and large companies from the hassles and time drain of processing payroll, filing payroll taxes, staying on top of changing employment law and compliance regulations, and more. We will evaluate your organization's human resources needs and customize a package of services just for you, with one convenient monthly payment.


Human Resource Management Consultants | PSC

We have provided strategic services procurement and have optimized workforce management for clients across a wide range of industries, including consumer electronics, financial services, retail, manufacturing, publishing, telecommunications, banking, and public utilities.