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Statutory Costs
Statutory costs are those that are required by statute in any given country.
Statutory costs are those that are required by statute in any given country. An example would be social security contributions or workers compensation. They are mandatory costs that employers incur, and are required to pay on behalf of an employee. They are binding costs.
Related Glossaries
Tax deduction
Tax deductions are amounts you can subtract directly from your income.
W9
W9 is a form you’ll need to complete for your employer.
Off-boarding
Offboarding is the process that leads to the formal separation between an employee and a company.
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