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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
IR35
A United Kingdom’s anti-avoidance tax legislation and applies to those working ‘off payroll’.
Crypto Payroll
Receiving your paycheque in crypto instead of in your specific country’s currency.
Compliance
Compliance exists to ensure that banks operate with integrity.
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