Is Kaamwork like traditional 3rd party payroll for full-time employees?
No.
In traditional 3rd party payroll, two things are mostly true: (1) roles are non-core or not long-term in nature, and (2) the 3rd party company is responsible for interviewing, salary negotiations, performance management, appraisals, work delivery (at least one of these if not all)
Both of these are untrue with Kaamwork - Company roles are core and Kaamwork has no role to play in the above-listed activities
As a full-time employee, who owns my performance, appraisals, promotions, and other career-related decisions?
As a full-time employee, who manages my payroll, benefits, and other local filings?
How are PTOs handled for full-time employees?
How is my payroll processed?
How do I get my payslips?
What benefits are provided under the employee model?
How do resignations work?
You can resign from your full-time employment by notifying your Company/manager, who will then inform Kaamwork of the same.
Depending on your notice period (as specified in the offer letter), Kaamwork will process your exit formalities including full and final settlement of all your claims and salary for the remaining days
What is the Security Deposit you collect for employees?
The Security Deposit is equivalent to one month’s salary of your hire and we collect this upfront to ensure we never miss a payroll cycle even in cases of unforeseen delays in payments.
This deposit is refundable upon the end of employment with the employee or adjustable against last month’s salary in case of separation.
What is the invoicing cycle for employees?
What is the Total Cost of Employment for employees?
Important to note that the salary you pay to an employee is not the same as your total cost of employment. The difference between the two varies by country
In countries like India and South Africa for example, when you offer someone a $100K salary, all statutory obligations including Social Security (or equivalent) are included so the 'total cost to the company' is the same as salary. Talent in these markets understands that the 100K is the gross figure and their take-home will be reduced after deducting statutory requirements.
In most other countries, the statutory cost elements are above and beyond salary.
In Portugal, the percentage of cost above salary is 23% whereas, in Brazil, it's almost 45%
Your total cost of employment is the salary plus statutory costs plus the Kaamwork fee
As a contractor, how do I generate invoices?
As a contractor, how do I get paid?
What currency can I get paid in?
Can I have multiple live contracts on Kaamwork?
Is there a limit to the number of transactions for contractors every month?
How does pricing work for contractors?
You pay a fixed monthly fee per active contract. For that monthly fee, you can execute as many payments to your contractors.
Fees automatically stop once the contract expires or is terminated
How do I receive invoices from contractors on Kaamwork?
How do I pay contractors through Kaamwork?
Can kaamwork help with benefits for contractors?
How do I create a contract?
Do you help with verification for contractors?
What is Kaamwork?
How can I engage global team members using Kaamwork?
Which countries can Kaamwork help hire team members?
Is there a minimum number of colleagues I need to engage globally on Kaamwork?
No
Zero setup or upfront fees mean that you can start with 1 team member and grow across geographies either in the contractor or employee model.
Can I use Kaamwork for already engaged global colleagues?
Can I decide the benefits to be offered to full-time employees engaged through Kaamwork?
How do I provide assets like laptops, smartphones, etc. to my globally distributed employees?
Is there a setup fee to onboard employees?
What happens to the fees if an employee joins mid-month?
What is the difference between the salary we offer to employees and our total cost of employment?
Every country does this differently.
In India and South Africa for example, there is a CTC (Cost-to-Company) concept - this CTC is your total cost of employment and includes employee’s salary as well as all statutory obligations - this CTC figure is also what you list in your offer letters.
Most other countries require you to provide for statutory obligations above and beyond the employee’s salary. These range from ~15% in the UK to ~50% in Brazil. Use our Global Cost Calculator to derive an approximate estimate of your total cost