Could I have a breakdown of the invoice charges?
Below you will find the different line items you will see on an invoice, with a corresponding description. If you have further questions, please reach out to Velocity Global through your normal process, and we will help you.
Allowances. Payment of an allowance. Examples of this are car, cell phone, or fitness allowances.
Bonus. Additional remuneration added to the supported employee's payment.
Commissions. Additional remuneration added to the employee’s payment due to sales generation.
Compensation. The amount of money your supported employee receives in exchange for their services.
Employee Expense. Payment of an expense.
Employer Insurance. Employer's liability insurance covers negligence lawsuits over work-related injuries and occupational diseases.
Insurance Premium. Premium for a private insurance plan through Velocity Global.
Payroll Tax. State tax on the wages that employers pay to their employees when the total wages are more than a certain threshold.
PTO Payout. Annual leave encashment.
Super Guarantee Charge (SGC). The SGC applies when employers don't pay the minimum super guarantee amount for their eligible employees to the correct fund by the due date.
Shift Payment. Payment for work that takes place outside of the ordinary hours of work as defined in the employment agreement.
Super Payments. Compulsory employer contributions to an employee’s retirement pension benefit fund.
Velocity Global EoR Fee. Velocity Global’s fee.
Wire Transfer Fee. Payment for the cost of a wire transfer.
Workers’ Insurance. Insurance for employers that covers financial costs when a worker sustains a work-related injury or illness.