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PTO
PTO is a benefit that allows employees to take time away from work while still receiving their regular pay.
PTO stands for ‘Paid Time Off’ and references paid time that an employer is required to provide to employees. Each country has different paid time off minimums, and companies are required to comply. Employers may opt to provide the minimum requirement as per local law, or they may offer above what is required. Companies will have a PTO policy that outlines how PTO is administered: how it’s accumulated, how it is to be used, and how it is applied for and approved.
Related Glossaries
In-kind benefits
A benefit-in-kind (BIK) is any non-cash benefit of monetary value.
Unlimited PTO
Allows employees to use fully paid unlimited leave.
Misclassification
Misclassification refers to that of an employee’s status.
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