Payroll
Employee Pay Day |
Monthly: Last working day of the Month Final pay must be paid on the month of the employee's termination date or the next month if the cut-off date has been missed. |
Client Payroll Cut Off Date | 8th of every month or nearest Friday if the 8th falls on a weekend |
Employee Reimbursements |
All approved expense workflows received by the 8th of the month will be paid on Pay Day. Approved expenses received after this date may be paid in the following month. |
Statutory Social Contributions
National Insurance Contributions (NIC) |
The Employer must pay towards the employees' NIC. This is for all employees between 16-65 years old. National Insurance Contributions is collected to fund the NHS (National Health System) and other health and social care schemes. This allows an employee to be eligible to benefits such as:
The amount you pay depends on the employee's NIC category. The thresholds for National Insurance Contributions depends on an employee's employment status and salary. NIC rates can also vary year by year or twice a year. |
Pension |
Employers must automatically enroll eligible employees into a pension scheme:
If the employee does not meet the requirements but requests to be enrolled into the pension scheme, you may not refuse. Employers must contribute at least 3% of the employee's monthly salary to the employee's pension. This is in addition to the 5% pension contribution that is deducted from their monthly pay. You may choose to increase your contributions or match employee contributions to a capped percentage such as 4% employer and 4% employee. If you would like to change your employer contributions for all employees, please inform Global Teams. Employees can also opt out of the pension scheme. |
Insurance
Professional Indemnity (PI) Insurance |
PI Insurance is often required by professional/regulatory bodies. The purpose of PI Insurance is to cover the company from compensation claims from clients or third parties due to mistakes or negligence whether free advice/service/designs or charged that could have caused a financial loss for clients. All Global Teams employees in the UK are covered by a PI insurance. |
Public Liability (PL) Insurance |
PL insurance can cover compensation claims from a member of the public for injury or damage. Both insurance would be relatively small fees covered by you. ll Global Teams employees in the UK are covered by a PL insurance. |
If you would like to add additional benefits such as allowances and leave entitlements, submit a ticket to Global Teams and we will get back to you within the next 24-48 hours to discuss feasibility and next steps. As the legal employer of your employees, it is important that any benefits tied to their employment go through the Global Teams' payroll and not directly paid by you as the client.