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. For more information and the fastest assistance, 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.
Business Cash Allowance. The 5% business contribution allowance calculated on the basic salary.
Commissions. Additional remuneration added to the supported employee’s payment due to sales generation.
Compensation. The amount of money the supported employee receives in exchange for their services. Compensation for Velocity Global supported employees in France is divided into three components: Salaire de base + Indemnité d'apport d'affaires + Réserve Financière Mensualisée. All of these combined are considered the supported employee's contractual gross monthly salary.
Breaking the salary into these three items is mandatory per our Collective Bargaining Agreement (CBA), and is applicable to all supported employees. This has no influence on taxes or the final net salary of the supported employee
Employee Expense. Payment of an expense.
Employer Social Contributions (Humanis Retraite). Contributions used to finance the compulsory supplementary pension. This is paid in addition to the basic pension.
Employer Social Contributions (Mutuelle). In general, the company's health insurance covers all the health expenses of the insured. It is a system that allows an insured person, in return for payment of a contribution, to be reimbursed for part or all of the health costs that are not covered by social security.
Employer Social Contributions (Prevoyance). Provident insurance is health coverage that offers protection against the vagaries of life. Indeed, providence covers illness, disability, death, work accident, or professional illness. It is a system that allows an insured person, against payment of a contribution, to be reimbursed for part or all of the health costs that are not covered by social security.
Employer Social Contributions (URSSAF). URSSAF contributions are intended, in particular, to finance the benefits offered by the general social security system.
These contributions finance the coverage or reimbursement of medical care, compensation for sick leave, maternity leave, work accidents, and the payment of basic pensions and family allowances for beneficiaries of the general social security system.
Insurance Premium. Premium for a private insurance plan through Velocity Global.
Monthly Financial Reserve. The financial reserve, equal to 10% of the basic salary.
Taxes Apprenticeship and Training. The apprenticeship tax is a system that allows companies to finance expenses related to apprenticeship and technological and professional training of the active population. The continuing vocational training is a participation of the employer in the financing of the continuing training of their staff and job seekers.
Velocity Global EoR Fee. Velocity Global’s fee.
Wire Transfer Fee. Payment for the cost of a wire transfer.
Work-From-Home Allowance. This is a mandatory €50 allowance for supported employees who work from home, as per French law.
Work-From-Home Allowance Free SS. This is a mandatory €50 allowance for work-from-home as per French law, and is not subject to social security contributions.