What can or cannot be expensed?
Physical assets (e.g., laptops, monitors, etc.) can be reimbursed to supported employees for up to US$500. For these types of expenses, we always recommend contacting us before making the purchase. For more information and the fastest assistance, pplease reach out to Velocity Global through your normal process, and we will help you.
How are expenses reimbursed?
Velocity Global has two Faster Reimbursement Process (FRP) cycles for expense reimbursements:
FRP1. All expenses you approve between the 11th and 24th of the current month are paid on the 5th of the next month.
FRP2. All expenses you approve between the 25th of the previous month and payroll additions day (normally the 10th of the current month) are paid on the 20th.
Note: The 2023 calendar is in progress, which may impact the above reimbursement schedule dates.
Can supported employees avoid paying out of pocket and waiting for expense reimbursements?
Unfortunately, we cannot pay expenses for your supported employee up front.
What are the country-specific expense regulations?
Expenses reimbursed by your company are not taxable.
Your supported employees can submit expenses for physical assets up to US$500 (Velocity Global’s approved limit for reimbursing physical assets) in Expensify. There is no cap for intangible items.
How do expenses need to be documented in India?
All expenses need to be supported by a document, such as a receipt or an invoice.
Can Velocity Global help us provide per diems instead of expenses? Can Velocity Global provide per diems for business travel?
Per diems are not recommended in India under our global Employer of Record model.