By outsourcing your contractors or augmented staff to a third party agency acting as their Employer of Record, you can:
- Eliminate Worker Misclassification
- Navigate Employer Risks and Liability
- Reduce Payroll Administration
Unintentional worker misclassification can result in headaches and hefty penalties for employers. Classification isn’t complicated when you’re operating within your standard hiring processes, but independent contractors, consultants, freelancers, and augmented staff are a different story. You can manage the risk of potential worker misclassification by utilizing a third party employment agency to employ such workers on your behalf.
Manage Employer Liability
As a Professional Employer Organization (PEO), we take on the independent contractors of our clients as the Employer of Record (EoR) and then lease these workers back to them, absorbing the day to day payroll administration responsibilities.
We assume all employer payroll obligations, like making bi-weekly EFT direct bank deposit payments to contractors, remitting employer payroll taxes, making employee source deductions, and ensuring compliance with provincial employment standards. Say goodbye to late government filings and late payment fees!
Worker’s Compensation Insurance
When independent contractors have difficulties obtaining their own Workers’ Compensation insurance, Canadian Payroll Services provides them with coverage under our agency’s umbrella workers’ compensation policies across Canada.