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Do you plan to open a subsidiary or representative office in Russia?
Have you already started a research yourself? If yes, you are familiar with how complicated that can task can be. Obviously, setting up a new business is not only about choosing the correct legal entity type. Its about accounting, reporting, employment, payroll and many more.
We understand your concerns: Russian accounting changes more often than in Europe or the United States. Those changes should be regularly monitored in order to avoid penalties. Recruitment and motivation plans should also be customized accordingly.
To assist you in Russia, Intercomp takes care of these tasks - accounting and IFRS reporting, payroll services in full compliance with local regulations and company’s global corporate policies, HR administration, recruitment and contracted work, legal services – registration of legal entities, migration services, etc. We provide professional support, recommendations and solid background knowledge.
Another valuable tool by Intercomp is “Salary report” which helps companies better understand multiple HR specifics in Russia. This is how the report is used. E.g. you open a new subsidiary in Russia, you need to know average salary, benefits, trends of how often and why employee expect salary rise. With Intercomp’s Salary report, you get detailed data and analytics for a specific region, industry and positions. Data is provided for the last 3-12 months’ salary and benefits calculations.
Salary report is also helpful when:
- justifying salary increases to parent companies,
- budgeting,
- making strategic HR decisions.
It relies on the payroll data we received while providing payroll services to our international customers. To prepare this quarterly Salary report, we have surveyed more than 20,000 employees from 30 industries in all federal regions of Russia. The data in the report is broken down by positions and regions, as well as by payments of fixed salary, bonus, benefits, compensations and incentives. The report also provides a detailed analysis of remuneration levels and structure, as well as a comparison with the annual cost of living. No assumptions have been made, and all data used for the survey is supported by documents. Salary report is available in both English and Russian.