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.
Any communication that does not take place in real-time.
Software application that enables the electronic handling of recruitment and hiring needs.
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.
The cutoff date is the last day within the payroll cycle.
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
Employment contracts that are either Fixed-term or Indefinite.
DIFC Employee Workplace Savings (DEWS) is a savings and investment scheme introduced by the Dubai International Financial Centre (DIFC).
Someone who performs their occupation entirely over the internet while traveling.
Refers to the status an employee has with an employer. Are they a contractor, or an employee?
EOR stands for Employer of Record.
Stand for employer of record and professional employer organization.
An exit interview is a meeting with an employee who is about to leave, or has recently left.
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.
The FX stands for Foreign Exchange (FX) Market.
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.
Allows individuals to receive medical, dental, vision, and other medically-related care.
An HRIS is a Human Resources Information System or Human Capital Management system.
A Hybrid Organization is one that adopts both remote and in-office working arrangements.
IBAN is an acronym for International Bank Account Number.
A benefit-in-kind (BIK) is any non-cash benefit of monetary value.
A United Kingdom’s anti-avoidance tax legislation and applies to those working ‘off payroll’.
A local transfer is when a bank makes a payment to a foreign bank account.
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.
An MT103 is a message type within the SWIFT system specifically designed for customer credit transfers.
The wage that the employee actually receives after income tax is deducted.
Off-boarding 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.
Onboarding refers to the process of integrating new employees into an organization.
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 mandatory contributions that employers and employees must pay to the government based on wages or salaries.
A pay slip is an official document provided by an employer to an employee, detailing the employee's earnings and deductions for a specific pay period.
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.
PTO is a benefit that allows employees to take time away from work while still receiving their regular pay.
Relocation refers to the process of moving an employee from one geographical location to another, typically to support business needs.
A remote-first organization is a company that prioritizes remote work as the default work model.
Process whereby all interviews are conducted not in person, but rather over platforms such as zoom.
Remote work refers to a working arrangement where employees do not have to report to a traditional office space
Statutory costs refer to the expenses that a business is legally required to pay under national or regional laws and regulations.
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication.
Synchronous communications is that which takes place in real-time between two or more parties.
Tax collection refers to the process by which governments collect taxes from individuals and businesses to fund public services and infrastructure.
Tax deductions are amounts you can subtract directly from your income.
Tax filing is the process of submitting required financial documents and information to tax authorities.
Allows employees to use fully paid unlimited leave.
Unpaid leave refers to a period of time off from work in which an employee does not receive their regular salary or wages.
A W2 is a tax form used in the United States to report an employee’s annual wages and the taxes withheld from their paycheck.
IRS form that tells the US government that the individual is not a US resident.
W9 is a tax form used in the United States by businesses to request the taxpayer identification number (TIN) of individuals or entities they pay.
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.