What Are the Advantages of Using a PEO?
There are many great reasons to use PEO service for your Detroit operations, but the overall benefits are time and money savings. A PEO allows you to outsource payroll, keeps you up to date on state and federal regulations, manages workers' comp claims and provides excellent risk management - taking these issues off your to do list.
- Provide complete payroll management, ensuring your employees are paid accurately and on time.
- Save you thousands on workers' comp premiums, with no down payments or audits.
- Protects your business by keeping you in compliance, with a team of HR experts.
- Offers competitive employee benefits.
How Does a PEO Service Work?
The relationship between a PEO company and employer is often called a “co-employment" relationship, because the PEO takes on many employee-related responsibilities. The employer remains in complete control of their company, while the PEO manages the administrative tasks.
Are PEOs Recognized By the Government?
Yes. PEOs operate in all 50 states and the IRS has recognized the right of a PEO to withhold and remit federal income and unemployment taxes for worksite employees per section 3511 of the IRS Code. Many states provide some form of specific licensing, registration, or regulation for PEOs. These states statutorily recognize PEOs as the employer or co-employer of worksite employees for many purposes, including workers' compensation and state unemployment insurance taxes.
Are The PEOs Employee Benefits A Requirement?
The answer is no with most PEOs. If you have benefits in place, many times we’ll compare those against the PEO company’s plans to ensure you’re getting the best deal. If you choose to keep your current benefits, the PEO can pre-tax deduct those through payroll each pay period.
Since 2001, ELQ has helped Detroit business owners find a PEO Employee Leasing Company that will deliver the services they need. Need to lower the high costs of workers' compensation insurance rates? We can help. Want to outsource payroll headaches? We can help there too.
For 20 years, we've researched and interviewed hundreds of PEO companies from across the country, understanding their industry preferences, services and costs - so you don't have to. Call today and see how the services we provide can save you time and money.