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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
IR35
A United Kingdom’s anti-avoidance tax legislation and applies to those working ‘off payroll’.
Wage
A wage is a fixed payment for services rendered.
Misclassification
Misclassification refers to that of an employee’s status.
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