Payment Terms
Every invoice carries a NET payment term that sets its due date. The default is NET-15, meaning payment is due 15 days after the invoice date. Other standard terms your account can be set to are:
A custom NET period can also be agreed for your account. Your current term appears on your downloaded invoice PDF.
The Transaction Fee
Each EOR invoice carries a transaction fee of 0.40% of the invoice total by default: salaries, bonuses, employer contributions, health insurance and EOR service fees. It is not charged on taxes, a security deposit, an FX credit or shortfall from a previous payroll, or on itself. Your agreement can set a different rate or waive it. When it applies, it shows on your invoice as a Transaction fee (0.4%) line item, after the lines it is charged on. For how to read that and other line items, see Understanding Invoices.Invoicing Policy
Every account is invoiced on the aggregated remittance model: one salary line for the payroll run, an EOR service fee line per employee, and the transaction fee. These invoices carry a v2 aggregated badge in the Finance invoice table. Invoices raised before your account moved to this model were built per engagement, with a salary line for each employee and no transaction-fee line. They stay in your invoice history as they were issued.Currency and FX
Employee salaries are funded in INR. If an engagement is set up in another currency, it can be migrated to INR at a live exchange rate so it can be paid out locally. Because the rate used when you are invoiced can differ slightly from the rate at which funds are actually converted, any difference is reconciled through your wallet:- A better-than-invoiced rate leaves a credit that offsets your next invoice.
- A shortfall is added to your next invoice.