Those who want to develop business activities in Finland can also consider employer of record (EOR) services, an optimal solution for a multitude of companies. This refers to a remote team of employees with employment contracts and rights like any other traditional worker. We invite you to discover some of the features of EOR in Finland and also to contact our team of company formation agents in Finland if you want to do business in this country.
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What is EOR in Finland and how can it be useful in your company?
EOR in Finland is an optimal solution for business owners who want a local workforce. In other words, you can benefit from Finnish employees via EOR services in Finland. Here is what you need to know in this case:
- Hiring remote workers through EOR in Finland is less expensive compared to the traditional recruiting and employment process.
- When you benefit from EOR in Finland, employees will have an employment contract, by the legislation in force.
- Employees have the same rights as employees of any company, with daily salary payments, days off, vacations, maternity/paternity/sick leave.
- Those interested in EOR services are not obliged to start a company in Finland.
- Onboarding and employment contracts are made at the time of EOR contracting in Finland.
- The security of the company’s information is guaranteed when working with an EOR provider in Finland.
People interested in opening a company in Finland can opt for our services. Moreover, company owners can opt for EOR in Finland and its benefits. We therefore invite you to find out more about company formation in Finland and the services that interest you, by contacting our local agents.
Working hours in Finland
The working day in Finland is 7.5 hours and respectively 37.5 hours per week, as stipulated by the Finnish Labor Law. The same law allows employers to set the average working hours for other grade employees at 8 hours per day. On the other hand, the maximum weekly working hours in a company, allowed by the legislation, are 48 hours. In this case, overtime is also taken into account. We invite you to learn more about work hours in Finland and to ask for help in opening a company in Finland if you want to do business here.
Benefits of EOR in Finland
It can be said broadly that EOR in Finland functions as a channel through which business owners can legally hire employees. Here are some of the advantages of EOR services in Finland:
- The payroll process ensures that such employees are paid on time.
- Labor regulations are respected in Finland.
- Intellectual property produced by employees using company assets is protected.
- There is a guarantee that payroll taxes are paid to the relevant authorities in Finland.
- The employment termination process is carried out in compliance with local legislation.
Minimum wage in Finland
There is no minimum wage in Finland. In this case, the collective agreement is taken into account, with the help of which the salary of an employee can be determined, among others. It can be said that wages in collective agreements are normally established taking into account the experience and professional skills of an employee. Here are the payroll taxes to be paid, to give you an idea when setting up a company in Finland:
- There is no income tax for salaries of EUR 10,000 per year. However, tax rates on benefits of 15% are paid.
- For salaries of EUR 70,000 per year the income tax is set at 26.5% rate.
We invite you to contact us if you want EOR services in Finland. Our local agents can also help you with company incorporation in Finland.