Remote Glossary

Find out everything you need to know about payroll, tax, social security and much more.

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13th month

A thirteenth salary, or year end bonus.

A

ACH

(Automated Clearing House) or ACH transaction, is an electronic bank to bank money transfer.

A

AML screening

AML, or anti-money laundering, screening is a critical part of compliance.

A

ATS

Software application that enables the electronic handling of recruitment and hiring needs.

A

Asynchronous Communication

Any communication that does not take place in real-time.

B

BIC

BIC stands for Bank Identifier Code.

C

Compliance

Compliance exists to ensure that banks operate with integrity.

C

Contractor

A contract employee (or self-employed worker) is not considered a permanent employee.

C

Crypto Payroll

Receiving your paycheque in crypto instead of in your specific country’s currency.

C

Cutoff date

The cutoff date is the last day within the payroll cycle.

D

DEWS

DIFC Employee Workplace Savings (DEWS) is a savings and investment scheme introduced by the Dubai International Financial Centre (DIFC).

D

Deductions

Payroll deductions are both required and optional deductions from an employee’s pay cheque.

D

Definite and Indefinite contract

Employment contracts that are either Fixed-term or Indefinite.

D

Digital nomad

Someone who performs their occupation entirely over the internet while traveling.

E

EOR

EOR stands for Employer of Record.

E

EOR and PEO

Stand for employer of record and professional employer organization.

E

Employment status

Refers to the status an employee has with an employer. Are they a contractor, or an employee?

E

Exit interview

An exit interview is a meeting with an employee who is about to leave, or has recently left.

F

FX

The FX stands for Foreign Exchange (FX) Market.

F

Form 1099

A 1099 is another IRS form, most commonly used by employers when they hire contractors.

F

Freelancer

Freelancer, or freelance worker, are terms commonly used for a person who is self-employed.

F

Full time employee

Workers with a minimum number of hours defined as such by the employment standard.

G

Gig Economy

A labor market characterized by short-term contracts or freelance work.

G

Global payroll

Refers to all the practices needed to administer payroll to individuals across the globe.

G

Gross salary

The gross salary corresponds to the total payments received by the employee.

H

HRIS

An HRIS is a Human Resources Information System or Human Capital Management system.

H

Health insurance

Allows individuals to receive medical, dental, vision, and other medically-related care.

H

Hybrid organization

A Hybrid Organization is one that adopts both remote and in-office working arrangements.

I

IBAN

IBAN is an acronym for International Bank Account Number.

I

IR35

A United Kingdom’s anti-avoidance tax legislation and applies to those working ‘off payroll’.

I

In-kind benefits

A benefit-in-kind (BIK) is any non-cash benefit of monetary value.

L

Local transfer

A local transfer is when a bank makes a payment to a foreign bank account.

M

MT103

An MT103 is a message type within the SWIFT system specifically designed for customer credit transfers.

M

Maternity leave

A ital workplace benefit that provides expectant mothers with time off from work before and after childbirth.

M

Midmarket

Midmarket, or Middle Market, is defined as a segment of businesses.

M

Misclassification

Misclassification refers to that of an employee’s status.

N

Net salary

The wage that the employee actually receives after income tax is deducted.

O

Off-boarding

Off-boarding is the process that leads to the formal separation between an employee and a company.

O

Off-cycle payment

"Off cycles", occur when payments are processed outside of the regular payroll cycle.

O

On-boarding

Onboarding refers to the process of integrating new employees into an organization.

P

PTO

PTO is a benefit that allows employees to take time away from work while still receiving their regular pay.

P

Parental leave

An employee benefit that provides job-protected leave from employment to care for a child.

P

Part-time employee

A part-time job is a form of employment that carries fewer hours per week.

P

Payment cycle

A payment cycle refers to the interval of time from the end of one payment date to the next.

P

Payroll Taxes

Payroll taxes are mandatory contributions that employers and employees must pay to the government based on wages or salaries.

P

Payslip

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.

P

Per diem

Per diem is a Latin word that means by (per) the day (diem).

P

Performance review

A formal assessment in which a manager evaluates an employee’s work performance.

R

Relocation

Relocation refers to the process of moving an employee from one geographical location to another, typically to support business needs.

R

Remote Work

Remote work refers to a working arrangement where employees do not have to report to a traditional office space

R

Remote hiring

Process whereby all interviews are conducted not in person, but rather over platforms such as zoom.

R

Remote-first organization

A remote-first organization is a company that prioritizes remote work as the default work model.

S

SWIFT

SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication.

S

Statutory Costs

Statutory costs refer to the expenses that a business is legally required to pay under national or regional laws and regulations.

A

Synchronous communication

Synchronous communications is that which takes place in real-time between two or more parties.

T

Tax collection

Tax collection refers to the process by which governments collect taxes from individuals and businesses to fund public services and infrastructure.

T

Tax deduction

Tax deductions are amounts you can subtract directly from your income.

T

Tax filing

Tax filing is  the process of submitting required financial documents and information to tax authorities.

U

Unlimited PTO

Allows employees to use fully paid unlimited leave.

U

Unpaid Leave

Unpaid leave refers to a period of time off from work in which an employee does not receive their regular salary or wages.

W

W-8BEN

IRS form that tells the US government that the individual is not a US resident.

W

W2

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.

W

W9

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.

W

Wage

A wage is a fixed payment for services rendered.

W

Work permit

A work permit is an official document giving a foreigner permission to take a job in a country.

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Working with RemotePass has been extremely easy and effortless. The customer support team are second to none - always quick to respond, always helping with desire and delivering perhaps some of the best customer service we have ever encountered. Onboarding new contractors and employees is quick and easy, and we are happy to recommend RemotePass to others

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RemotePass has hands down been one of the best (useful and easy to use) platforms I've worked with in the past few years!

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RemotePass has been a great success partner for Amwal, it truly enabled us to be international talent friendly. Attracting top talent without the hassle of thinking how we would hire and pay abroad.

Reda Reda, CEO and Co-Founder
@Amwal

RemotePass has really helped us take the pain out of managing salary payments, contract managements, and admin work with our remote teams. They feel much more in control and more connected because of it.

Mohammad Absi-Halabi, CEO
@Swftbox

RemotePass is a game-changer for us. It has made managing our remote teams effortless and has greatly improved the process of hiring, managing and collaborating with our team remotely. Highly recommended

Salem Abu-Hammour, CEO & Co-Founder 
@ERAD

We’re delighted to express our satisfaction regarding our collaboration with RemotePass. Their cutting-edge cloud-based platform has revolutionized our workforce and hiring procedures, enabling us to enhance efficiency and effectiveness in managing everything. It serves as a comprehensive solution that has greatly simplified our operations, making remote work effortless.

Kareem Masri, Accountant
@Alma Health

RemotePass has been so efficient for us as we have at least 60% of our team being remote. Especially for tracking if everyone has been paid out or if they have reimbursements, we don't have to manually do it one by one anymore. It's also really good since we are in compliance with each and every single one of our remote teams' place of residence.

Lorena A, HR
@NasDaily

Brilliant service. We love and we'd be using it for the years to come. Also great customer success management as well!

Badr A.  CEO
@Soum

We love the entire system you guys have built, it's user-friendly and in particular we love the automated notifications part. Employees are automatically informed about the payment status and they receive the payment in a couple of hours after they get notified vs. manually asking us. Thanks for your ongoing support

Muhammed, CFO
@ShortPoint

Using RemotePass has been an absolute game-changer for our operations - knowing that we have a reliable partner on our side even in complex regions efficiently (this has previously been a big headache for us), allows our teams to focus exclusively on client service and product delivery

Nina, Associate VP
@Infomineo

We were looking for a simple and affordable product and RemotePass more than delivered. RemotePass helped us streamline and manage our remote teams. RemotePass understood us as a company and provided us the support and confidence that we are compliant with regulations, our remote teams have excellent support, and that we made the right choice

Preeta, HR Business Partner
@Eyewa

RemotePass has been very helpful as it streamlines the payment process to our consultants, with a simple 2 to 3 clicks the job is done. It is effortless and straightforward to use. The most important thing is that It eliminates any compliance risks we might face, and the lengthy verification process. Overall the system is excellent, and I would recommend it to other organizations.

Rafik, Head of HR
@Rizek

The product has been incredibly a game-changer for us as we scaled our team globally. Creating a great first impression when onboarding remote teams. Everything centralized in one place. Love it!

Roxana L, Chief People Officer
@Bankio

Our work with RemotePass is a partnership based on trust and credibility we are proud to have. With RemotePass services, onboarding and payroll for our global team is well managed and our employees feel safe and cared for.

Fahad A, HR
@Soum KSA

I was instantly impressed with the UI/UX of the RemotePass platform, it is incredibly user-friendly and the feedback I have received from the remote workers has been excellent. Having supplied contract and remote staff to clients in the Middle East for several years, I have been used to a very manual and labor-heavy process when it comes to payroll and compliance. After one demonstration from the team at RemotePass I switched from using an existing supplier, as I get better value and service using this platform.

David S, Practice Lead
@Salt

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