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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
Gross salary
The gross salary corresponds to the total payments received by the employee.
Synchronous communication
Synchronous communications is that which takes place in real-time between two or more parties.
W9
W9 is a form you’ll need to complete for your employer.
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