Delhi is the capital city of the Republic of India and is a Union Territory. Being one of the largest metropolises in the country, Delhi houses around 18 million people. It is Delhi where the three main branches of the Indian government- Legislature, Executive and Judiciary, are located. Steeped with rich history, culture, trade and industry, Delhi has emerged as one of the hot destinations for businesses contributing to its economy. If you want to recruit highly-skilled workers from Delhi that shelters plenty of them, using EOR Delhi services is going to be a prudent thing to do. After all, ensuring that you are expanding your business in Delhi compliantly is essential to stay insulated from penalties and breaches of law. A EOR Delhi partner will shield you from these risks.
Table of Contents
- Delhi at a Glance
- City Profile & Economic Overview of Delhi
- Major Industries in Delhi
- What is EOR Delhi?
- What are EOR Delhi Services?
- Why Should You Hire Workers from Delhi?
- Final Words- EOR Delhi
- Frequently Asked Questions- EOR Delhi
Delhi At a Glance
- About: Delhi is situated in the northern part of India and was accorded the label of National Capital Territory (NCT) in 1991
- Location: Bordered by the states of Haryana on the north, west, and south, and Uttar Pradesh on the east, Delhi is located on the west bank of the Yamuna River.
- Area: 1,483 square kilometers
- Population: 32,941,000
- Climate: Continental climate- dry winter humid subtropical climate
- GSDP: US$118 billion
- Moniker: Rome of Hindustan
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City Profile & Economic Overview of Delhi
As per the Delhi Economic Survey 2021, the Gross State Domestic Report (GSDP) of Delhi is INR 9.23 trillion equating to US$118 billion. The tertiary sector alone accounts for 84.6 percent of Delhi’s GSDP. Notably, the services sector of Delhi is the largest income generator. RBI reports suggest that Delhi has the second highest GDP per capita in the country.
Delhi provides a conducive business environment for companies of all sizes, with a supportive regulatory framework, access to capital and resources, and a large consumer market. The city is home to numerous multinational corporations, startups, and small businesses operating in diverse industries.
What is worth mentioning is that Delhi has undergone significant infrastructure development in recent years, with improvements in transportation, utilities, housing, and connectivity. Projects such as the Delhi Metro, expansion of highways, and development of commercial and residential complexes have enhanced the city’s livability and attractiveness for businesses and residents alike.
Major Industries in Delhi
Delhi, being the capital city of India and a major economic hub, is home to a diverse range of industries. Several MNCs such as Oracle, PepsiCo, Walmart, Samsung, etc. are operating in Delhi. Interestingly, the National Capital Territory has also garnered significant attention in terms of Foreign Direct Investment (FDI) inflow. Let’s have a look at the major industries in Delhi:
1. Information Technology (IT) and Software Services
Delhi has a growing IT sector, with numerous software development companies, IT services firms, and startups. Areas such as Noida and Gurgaon, which are part of the National Capital Region (NCR), also contribute significantly to the IT industry. Prominent players in this space such as TCS, Wipro, HCL, etc. are operating in Delhi.
2. Finance and Banking
Delhi houses the headquarters of several national and international banks, financial institutions, and insurance companies. It is a major center for banking, finance, and capital markets activities. SBI, ICICI, PNB, etc. are present here.
3. Manufacturing
Delhi has a diverse manufacturing sector, including industries such as electronics, textiles, garments, automotive components, chemicals, and pharmaceuticals. Industrial areas like Okhla, Mayapuri, and Wazirpur are known for manufacturing activities. Maruti Suzuki, Havells India, Jindal Steel and Power, etc. are based out of Delhi.
4. Tourism and Hospitality
Millions of domestic and international tourists each year with its historic landmarks, cultural attractions, and vibrant street life get attracted to Delhi. The tourism industry encompasses hotels, restaurants, travel agencies, and related services. Taj, Oberoi, Lemon Tree, etc. are some big names in the hospitality sector functioning here.
5. Healthcare and Pharmaceuticals
Delhi has a robust healthcare sector, with world-class hospitals, medical research institutions, pharmaceutical companies, and healthcare service providers. It is a hub for medical tourism in India. Dr. Reddy’s Laboratories, Apollo Hospitals, Fortis Healthcare, etc. in Delhi pertain to this industry.
6. Education and Research
Delhi is home to prestigious educational institutions, including universities, colleges, research centers, and technical institutes such as University of Delhi, IIT-D, AIIMS- Delhi, JNU, etc. The education sector contributes significantly to the city’s economy and intellectual capital.
7. Transportation and Logistics
Delhi is a major transportation and logistics hub, with extensive road, rail, and air connectivity. It houses important transportation infrastructure such as airports, railway stations, bus terminals, and logistics parks. Some of these include:
- Delhi Metro Rail Corporation
- Delhi Transport Corporation
- Delhi Airport
These industries collectively contribute to Delhi’s status as a leading economic and cultural center in India, driving growth, innovation, and opportunities for businesses and residents alike.
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What is EOR Delhi?
“EOR Delhi” stands for “Employer of Record (EOR) Delhi.” Employer of Record (EOR) services involve a third-party entity taking on the legal responsibilities of being the employer for a company’s workforce in a particular location, in this case, Delhi. EOR services typically include tasks such as payroll processing, tax compliance, HR administration, and other employer-related responsibilities. This allows companies to expand their operations into Delhi without establishing a legal entity, while ensuring compliance with local labor laws and regulations. EOR services are particularly beneficial for businesses seeking to enter new markets or expand their presence in a cost-effective and efficient manner.
User-friendly EOR Delhi service providers like Asanify offers excellent facilities to global businesses in streamlining HR, payroll, compliances, and tax matters. The best thing is they won’t have to set up a new entity in Delhi while hiring employees. The entire procedure of setting a legal entity in a new country and decoding the complex labor code can be quite tricky. However, if you have the backing of a EOR Delhi company like Asanify, things will become smoother than ever.
What are EOR Delhi Services?
An EOR Delhi company such as Asanify provides a range of services to assist businesses in managing their workforce in the city. These services typically include:
1. Employment Contracts: Drafting and managing employment contracts compliant with local labor laws and regulations.
2. Payroll Administration: Processing payroll, including calculating wages, deductions, and taxes, and ensuring timely and accurate payments to employees.
3. Benefits Administration: Managing employee benefits such as health insurance, retirement plans, and other statutory benefits as required by local laws.
4. HR Compliance: Ensuring compliance with Delhi’s labor laws, including regulations related to working hours, leave entitlements, minimum wage requirements, and employee rights.
5. Tax Compliance: Handling payroll taxes, tax filings, and compliance with tax regulations governing employer obligations in Delhi.
6. Work Permits and Visas: Assisting with obtaining work permits and visas for foreign employees working in Delhi, ensuring compliance with immigration laws.
7. Employee Onboarding and Offboarding: Managing the onboarding process for new hires, including documentation, orientation, and training, as well as handling offboarding procedures for departing employees.
8. Employee Relations: Providing support for employee relations issues, such as conflict resolution, disciplinary actions, and performance management.
9. Legal Support: Offering legal advice and assistance on employment-related matters, including interpretation of labor laws, dispute resolution, and representation in legal proceedings if necessary.
10. Recordkeeping and Reporting: Maintaining accurate records of employee information, payroll data, and compliance documents, and generating reports as needed for regulatory purposes or internal management.
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Why Should You Hire Workers from Delhi?
Wondering why should you hire workers from Delhi? Well, we have got you covered. Let’s get into the details:
1. Access to a Diverse Talent Pool
Delhi, as the capital city of India, boasts a large and diverse talent pool across various industries. Tapping into this talent pool will give you access to skilled professionals with expertise in fields such as information technology, finance, healthcare, engineering, and more.
2. Cost-Effective Labor
Labor costs in Delhi may be lower compared to many other global cities, making it an attractive option for businesses looking to optimize their operational expenses while maintaining quality standards.
3. English Proficiency
Delhi has a high level of English proficiency among its workforce, making communication and collaboration easier for global businesses with English as the primary language of operation.
4. Educational Institutions
Delhi is home to several prestigious educational institutions, including universities, colleges, and technical institutes. Global businesses can benefit from hiring graduates from these institutions who bring fresh perspectives and skills to the workforce. Premium educational institutions such as IIT Delhi, DTU, JNU, etc., are located in Delhi. This ensures a steady flow of top talent that can be imbibed into the workforce.
A survey by WorkMotion has revealed that Delhi workforce ranks high among most competitive global workforce for high level remote jobs. No wonder why engaging talent from Delhi is going to benefit your business incredibly.
5. Globalization and Outsourcing Opportunities
Delhi has a thriving outsourcing industry, with companies offering a range of services such as IT outsourcing, business process outsourcing (BPO), and knowledge process outsourcing (KPO). Global businesses can leverage Delhi’s outsourcing capabilities for tasks such as software development, customer support, and back-office operations.
6. Strategic Location
Delhi’s strategic location in northern India provides easy access to other major cities and regions in the country, making it a convenient base for businesses looking to establish a presence in the Indian market.
7. Cultural Diversity and Innovation
Delhi’s multicultural environment fosters creativity, innovation, and diversity of thought, which can be valuable assets for global businesses seeking to drive innovation and remain competitive in the global marketplace.
8. Growing Consumer Market
India’s rising middle class and increasing consumer spending present lucrative opportunities for businesses in various sectors, including retail, e-commerce, consumer goods, and services. Hiring workers from Delhi can provide insights into local market dynamics and consumer preferences, facilitating market expansion and growth.
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Final Words- EOR Delhi
When it comes to navigating the complexities of employment regulations and managing a workforce in Delhi, choosing the right Employer of Record (EOR) service provider is crucial for ensuring compliance and seamless operations. Asanify emerges as the ideal choice for EOR services in Delhi, offering a comprehensive suite of solutions tailored to meet the unique needs of businesses. With its deep understanding of local regulations, expertise in payroll administration, and commitment to client satisfaction, Asanify stands out as the trusted partner for companies looking to expand into Delhi with confidence. By leveraging Asanify’s innovative technology platform and dedicated support, businesses can streamline their operations, mitigate risks, and focus on their core objectives while experiencing a smooth and successful expansion into the dynamic market of Delhi.
Frequently Asked Questions- EOR Delhi
1. What is EOR (Employer of Record) in Delhi?
EOR, or Employer of Record, is a service provided by a third-party organization that assumes the legal responsibilities of being the employer for a company’s workforce in Delhi. This includes payroll processing, tax compliance, HR administration, and other employer-related tasks.
2. Why would my company need EOR services in Delhi?
EOR services in Delhi are beneficial for companies looking to expand their operations into the city without establishing a legal entity. EORs handle all employer obligations, ensuring compliance with local labor laws and regulations.
3. What are the benefits of using EOR services in Delhi?
Some benefits of using EOR services in Delhi include streamlined HR and payroll processes, compliance with local laws and regulations, access to a skilled workforce, and reduced administrative burdens for companies expanding into the market.
4. How does EOR in Delhi differ from traditional staffing agencies or outsourcing firms?
Unlike traditional staffing agencies or outsourcing firms, EORs take on the legal responsibilities of being the employer of record for a company’s workforce in Delhi. This includes compliance with labor laws, payroll processing, and HR administration.
5. What industries can benefit from EOR services in Delhi?
EOR services in Delhi can benefit a wide range of industries, including finance, IT, manufacturing, healthcare, hospitality, and more. Any company looking to hire employees in Delhi can leverage EOR services to ensure compliance and streamline operations.
6. Can EOR services in Delhi help with work permits and visas for foreign employees?
Yes, EOR services in Delhi can assist with obtaining work permits and visas for foreign employees working in the city. They can also provide guidance on immigration laws and compliance requirements.
Not to be considered as tax, legal, financial or HR advice. Regulations change over time so please consult a lawyer, accountant or Labour Law expert for specific guidance.
