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BIC
BIC is another acronym, which stands for Bank Identifier Code.
BIC is another acronym, which stands for Bank Identifier Code, and is used to identify specific bank branches. It’s like a postal code or zip code for your bank and is comprised of between 8 to 11 numbers. It is used as part of the SWIFT system and sometimes the terms SWIFT and BIC are used interchangeably.
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Per diem
Per diem is a Latin word that means by (per) the day (diem).
Deductions
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
PTO
PTO stands for Paid Time Off.
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