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EOR and PEO
Stand for employer of record and professional employer organization.
A PEO is a Professional Employer Organization, which is a third party that co-employs individuals with a business. They provide the payroll and other services in a country and ensure compliance requirements are met. While similar to an EOR, a PEO is different in that it is not the legal employer. They act as an employment partner and similar to an outsourced payroll and compliance vendor.
Related Glossaries
Cutoff date
The cutoff date is the last day within the payroll cycle.
Employment status
Refers to the status an employee has with an employer. Are they a contractor, or an employee?
ACH
(Automated Clearing House) or ACH transaction, is an electronic bank to bank money transfer.
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