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 supported employee’s payment due to sales generation.
Compensation. The amount of money your supported employee receives in exchange for their services.
CPF - Employer CPF. The Central Provident Fund (CPF) is a mandatory social security savings scheme funded by contributions from employers and employees. Employer CPF refers to contributions made by the employer.
Employee Expense. Payment of an expense.
Employer Social Contributions. The employer's social contribution is the monthly amount paid by companies for having a worker hired and rendering services for it. In order to calculate social contributions, different percentages are applied.
Insurance Premium. The premium for a private insurance plan through Velocity Global.
SDL. The Skills Development Levy (SDL) is a compulsory levy imposed under the SDL Act for all your supported employees, including foreign employees, working in Singapore. The SDL is in addition to CPF contributions or Foreign Worker Levy (FWL).
Velocity Global EoR Fee. Velocity Global’s fee.
Wire Transfer Fee. Payment for the cost of a wire transfer.