08
Jul

Inquiries & Fees, Simulations, and WFH Plan (4th GEO)

 

 

GEO service

What is the difference between GEO/PEO/EOR?


  • GEO service means Global Employment Outsourcing (or Global Employment Organization). Using our GEO service, you do not need to establish a company in Vietnam, but can recruit Vietnamese employees (engineer, designer, accountant architect, BPO staff…)
  • EOR: Employment of Record

→Employ staff instead of clients. Accept most of the labor work instead of the client.

  • PEO: Professional Employment Organization →Focusing on Outsource service of the HR department (all of labor work such as recruit, attendance, payroll, tax matter..).

<Our GEO service definition>

GEO= EOR + PEO in Vietnam

Our laboratory-style offshore development (GEO) services are aimed at expanding into Vietnam, commissioning pre-company testing, securing talented engineers and other human resources, and also being able to operate a large team remotely.

With covid-19, post covid-19 situation, global moving is not so easy. And remote work has been more popular. In these situations, you do not need to establish a company and send a person to manage the company in Vietnam.

<span”>You can reduce the cost to establish a company and time to prepare all of it. Focus on your own business.

Price table (this fee for 1 staff/month)

Content Basic
(200 USD)
Standard
(350 USD)
Predium
(500 USD)
Management staff
Workplace WFH Office
It Comter No
Mtg Support 2h/month
Free Recruitment <500 USD(salary)
Support Other service

Iticial cost

Recruitment fee
Under 500USD free
500 – 1000USD 1month of salary
Over 1000USD 2month of salary
Deposit 2 month salary after probation term (2months)
Device Purchase for staff (provide by customer)
MTG support (4h/month) 200USD
Communicator(40h/month) 500USD
Expense appear
Company trip 250-400USD/person/year
Health check 50-100USD/person/year
Tet (new year) bonus 1month salary/person
Company party 30USD/person

Compare

 
Management fee
500USD per person/month
Lab transfer fee
2 months’ salary
 
About the trial period
2-month trial period is allowed. Identify skills and personalities that cannot be understood only by interviews, and decide whether to hire this book. Social Security and paid leave (12 days a year) will occur after this employment.
About deposits
At the first request after this recruitment of lab personnel, we will pay two months’ basic salary of lab personnel as a deposit. The deposit will be returned at the end of the contract period, but will be used as a guarantee to lab personnel if the contract ends before the expiration of the contract period.
Other expenses incurred due to laboratory operation
・ Health check fee: Once a year, 1 million VND (about 50 USD) / year (for employees who have passed more than one year) ・ Company trip: Once a year, 4 million (about 200USD) – 6 million (about 300USD) VND / person ・ Tet (Chinese New Year) bonus: Salary for employees who have worked for more than one year for one month
 

  • Doesn’t take too much time and initial cost
  • The use of Labo model will help businesses have time to adapt to Vietnamese culture before choosing to establish a long-term company.

→ Below is a cost comparison table (IT company, personnel > 5 people) to help customers better understand the difference between Labo and Establishment of a company

Item (initial cost) Price Remarks
Establish company Fee 7,000USD If you ask an agency
Office deposit 4,000USD 2 months rent
Office Interior 10,000USD  
Buy Office Furniture 3,000USD Desks, chairs, shelves, refrigerators, etc.
Network construction 500USD Internet, telephone, etc.
Recruitment 10,400USD Recruiting fee: 2.6 months’ salary
Total initial cost 34,900USD  
Price simulation

Job monthly salary Remarks
Senior PHP Engineer 1,200USD 5 years of work experience, leader
Regular PHP Engineer 800USD 3 years of work experience, working for a Japanese company
Regular Android Engineer 700USD 2 years of work experience
IT Communicator 800USD Interpretor and translate document
Designer HTML coder 500 USD 3 years of work experience
Total salary 4,000USD  
Social Security (for company) 860USD 21.5% of salary
Management fee 2,500USD 500USD / × 5 people
Subtotal 7,360USD  
Consumption tax 0% VAT exemption for software development
Total 7360USD Unit price per person:  1472USD
 

  • Monthly payment regardless of project progress
  • Minimum 1 year recruitment contract term, do not worry about employees quitting suddenly
  • Project data can still be managed in case of sudden employee leave

→ Cost comparison table between OutSource and Labo with an IT company with 5 employees

OUTSOURCE SALARY
3 Junior 3,000USD
1 Senior 4,500USD
1 Project manager 6,000USD
Subtotal 13,500USD
Unit price per person: 2,700USD/person
LABO COST
Salary for 5 staff 6,300USD
Social security 860USD
Management fee 2,500USD
Subtotal 9,660USD
Unit price per person: 1,932USD/person

* So you will save $3,840 if you choose Labo

 

 

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