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SALARY PAYMENT IN Indian Rupee (INR)
CONTRACT LANGUAGES Hindi / English
PAYROLL TAX 16.75%
PAYROLL CYCLE Monthly
TIME TO HIRE 12 hours
Hire and pay talents
with Horizons in
180+ countries
India
The Indian healthcare system is predominantly made of the public healthcare system and a substantial private healthcare sector. The public system is funded mostly by the government and provides basic healthcare hospital and centres to the Indian residents. Most services are free, but some more substantial care can attract a fee. The public system provides coverage to the unorganized sector of employment, as well as those who are living is hardship or poverty conditions.
The private system is much larger and provides the most secondary, tertiary, and quaternary care institutions across the country. The private system makes up 58% of all hospitals in India and holds a capacity of 29% of all hospital beds. This system is funded by the government, employers, and employees in companies within the organized sector of employment, and various private health insurance funds. Treatment costs in the private sector however can be high as there are no laws or regulation that standardise the sector across the country.
All Indian citizens can subscribe to The National Pension system is a voluntary pension system that helps citizens plan and save for retirement by opening a pension dedicated account. The National Pension System is available to Central Government Employees, State Government employees, corporate employees, individuals, and workers in the Unorganized Sector.
Most pension plans are based on earning-related contributions. For employees that work in a company with more than 20 employees, there will be employer and employee contributions made to The Provident Fund, which is a pension fund dedicated to workers within the organized workers’ sector.
The Act on the Employment Promotion and Vocational Rehabilitation of Persons with Disabilities (2007) sets out certain provisions for individuals with disabilities. The stated goal of the act is to: “facilitate and promote employment opportunities and the vocational rehabilitation of disabled persons, so that they may be able to enjoy their lives with human dignity through vocational lives fit for their abilities.”
Social security schemes relating to disability include the Industrial Accident Compensation Insurance. All employers in South Korea contribute between 0.6% and 18.5% of monthly payroll, depending on their industry.
In India, there are limited unemployment benefits available to those who find themselves suddenly unemployed. The government does offer numerous schemes though for individuals and families that fall well below the poverty line.
Your business can easily hire employees in India without opening a local entity. We handle local employment law, complex tax regulations, and international payroll in 180+ countries worldwide. All you need to do is focus on your business.
For those apart of the organized workers sector, employees are entitled to benefits derived from the Provident Fund, which includes pension benefits, healthcare and medical benefits, disability benefits, maternity benefits, and gratuity payments.
Horizon offers private health insurance under Group Medical Insurance (GMI) for an employee as part of the salary structure up to a total insured sum of 500,000 INR. There are two options available:
Headquarters
71 Robinson Road #13-153
Singapore 068895
+65 3158 1382
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Skalitzer Str. 85/86
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+49 30 3119 9653
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1700 S. Lamar Blvd Suite 338
Austin, Texas 78704
+1 (737) 265-6065
See more locations
71 Robinson Road #13-153
068895, Singapore
+65 3105 1170
Skalitzer Str. 85/86
10997, Berlin
+49 30 3119 9653
1700 S. Lamar Blvd Suite 338
Austin, Texas 78704
+1 (737) 265-6065
See more locations
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