Find out everything you need to know about payroll, tax, social security and much more.
A thirteenth salary, or year end bonus.
(Automated Clearing House) or ACH transaction, is an electronic bank to bank money transfer.
AML, or anti-money laundering, screening is a critical part of compliance.
Software application that enables the electronic handling of recruitment and hiring needs.
Any communication that does not take place in real-time.
BIC stands for Bank Identifier Code.
Compliance exists to ensure that banks operate with integrity.
A contract employee (or self-employed worker) is not considered a permanent employee.
Receiving your paycheque in crypto instead of in your specific country’s currency.
The cutoff date is the last day within the payroll cycle.
DIFC Employee Workplace Savings (DEWS) is a savings and investment scheme introduced by the Dubai International Financial Centre (DIFC).
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
Employment contracts that are either Fixed-term or Indefinite.
Someone who performs their occupation entirely over the internet while traveling.
EOR stands for Employer of Record.
Stand for employer of record and professional employer organization.
Refers to the status an employee has with an employer. Are they a contractor, or an employee?
An exit interview is a meeting with an employee who is about to leave, or has recently left.
The FX stands for Foreign Exchange (FX) Market.
A 1099 is another IRS form, most commonly used by employers when they hire contractors.
Freelancer, or freelance worker, are terms commonly used for a person who is self-employed.
Workers with a minimum number of hours defined as such by the employment standard.
A labor market characterized by short-term contracts or freelance work.
Refers to all the practices needed to administer payroll to individuals across the globe.
The gross salary corresponds to the total payments received by the employee.
An HRIS is a Human Resources Information System or Human Capital Management system.
Allows individuals to receive medical, dental, vision, and other medically-related care.
A Hybrid Organization is one that adopts both remote and in-office working arrangements.
IBAN is an acronym for International Bank Account Number.
A United Kingdom’s anti-avoidance tax legislation and applies to those working ‘off payroll’.
A benefit-in-kind (BIK) is any non-cash benefit of monetary value.
A local transfer is when a bank makes a payment to a foreign bank account.
An MT103 is a message type within the SWIFT system specifically designed for customer credit transfers.
A ital workplace benefit that provides expectant mothers with time off from work before and after childbirth.
Midmarket, or Middle Market, is defined as a segment of businesses.
Misclassification refers to that of an employee’s status.
The wage that the employee actually receives after income tax is deducted.
Offboarding is the process that leads to the formal separation between an employee and a company.
"Off cycles", occur when payments are processed outside of the regular payroll cycle.
Mechanism through which new employees acquire the necessary knowledge to become a member.
PTO stands for Paid Time Off.
An employee benefit that provides job-protected leave from employment to care for a child.
A part-time job is a form of employment that carries fewer hours per week.
A payment cycle refers to the interval of time from the end of one payment date to the next.
Payroll taxes are taxes directly related to work.
The documentation attached to the paycheque that notes the gross salary.
Per diem is a Latin word that means by (per) the day (diem).
A formal assessment in which a manager evaluates an employee’s work performance.
Employers may require employees to relocate to another city or country as part of a job offer.
Remote work, also called work from home, work from anywhere, telework, remote job, mobile work.
Process whereby all interviews are conducted not in person, but rather over platforms such as zoom.
Remote-first is an organizational strategy that makes working remotely the primary option.
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication.
Statutory costs are those that are required by statute in any given country.
Synchronous communications is that which takes place in real-time between two or more parties.
A tax collection is the act of collecting the taxes owing.
Tax deductions are amounts you can subtract directly from your income.
Tax filing is the submission of the actual tax forms.
Allows employees to use fully paid unlimited leave.
A leave that the employer permits, however is not paid in terms of wages.
IRS form that tells the US government that the individual is not a US resident.
A W2 is a Wage and Tax Statement that is issued annually to employees.
W9 is a form you’ll need to complete for your employer.
A wage is a fixed payment for services rendered.
A work permit is an official document giving a foreigner permission to take a job in a country.