Line-Item Descriptions in Germany Internal

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.

Accident Insurance: Accident insurance is an employer contribution that contributes to a fund that is supplemental to the primary health plan. It helps pay for out-of-pocket medical and non-medical costs from an accident or injury.

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 supported 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 Additional Social Security: The employer contributions for Nursing Care Insurance, the Severly Handicapped Fund, the Insolvency Charge, and Maternity Leave.

Employer Pension Contribution: The employer contribution to the statutory pension system.

Employer Unemployment Insurance: The employer contribution to the statutory unemployment insurance system.

Health Insurance: The employer contribution to the statutory health system. 

Insurance Premium. The premium for a private insurance plan through Velocity Global.

Private Employer Care Insurance: If an employee has a private health insurance plan, this is the employer contribution to that plan.

Velocity Global EoR Fee. Velocity Global’s fee.

Wire Transfer Fee. Payment for the cost of a wire transfer.