You local Israeli payroll
Yeul Sachir provides legal, efficient & flexible solutions for the employment of professionals for companies and entities in Israel
One of the main services the YS provides is allowing foreign entities that don’t have a local subsidiary, to employ professionals in Israel. Be it a startup the chose to incorporate in the US, a company or NGO that wishes to employ one more more Israeli talents, and an entity that seeks to continue to enjoy the services of an employee who “made aliya”, YS provides the solution.
?How does it work
Yeul Sachir and the client sign a service providing agreement that formulates the party’s obligations, the employee salary cost, the nature of the relationship, and the role of the contactor proving the actual services (the employee). We will sign a WBEN8 form per need.
After a meeting and an interview, the employee sign a personal work agreement with YS and becomes a salaried employee (and has an employer-employee relationship with YS) despite the end client being based outside of Israel. The employee reports his hours to the company and we bill the client and pay the employee his salary by direct deposit to his bank account. The employee is sent his pay-slip, every month and a 106 annual tax statement is issued in the end of every tax year.
The workers are employed according the regulations set by Israeli National Insurance and all of the company employees are considered salaried employees for all intents and purposes by all Israeli authorities as well as US tax authorities .
What are the benefits for the client and the employee?
Thee client can quickly and easily employ Israel based talent.
There is a contactor-client relationship between the the customer ordering the services and the worker as he is considered an employee of the YS Group.
The customer is assured that all taxes are paid.
The customers is assured that all mandatory benefits such as pension and severance pay are being paid as well as optional ones (if he so desires) such as savings fund and other benefits.
Aside from the service fee, every penny the customer pays us goes towards the employee’s salary.
The client can pay us in a number of channels in in a currency of his choosing.
The invoicing is done quickly and efficiently and unless we are asked otherwise, it goes by by email with an electronic signature.
The employee is considered our employee for all intents and purposes and does not need to open a file with the tax authorities in Israel
The employee’s income is not subject to US SS taxes (as it would be if he is an American citizen and became self employed)