In a nutshell, this is what you need to know: We charge $599 per month per employee when billed yearly and $699 if billed monthly. This fee is added on top of total cost of employment (TCE). TCE is the sum of gross salary of the employee, all statutory required payments (f.ex. social security contributions) and cost for non-statutory benefits. We charge a 10% security deposit of annual gross salary to cope with unforeseen costs, which is returned at the end of the contract. We do not charge any setup fees, monthly reservations or any other hidden fees.
Wondering what countries we are available in? See: remote.com/countries
- How much do you charge per employee?
- What is total cost of employment (TCE) and how do you calculate it?
- How do you calculate gross and net salary?
- What is the security deposit and what is it used for?
- Are there onboarding or setup fees?
How much do you charge per employee?
We charge $599 per month per employee when billed yearly and $699 if billed month to month. This fee is on top of total cost of employment (TCE).
We find that even for top 1% salaries, Remote is more affordable than alternative solutions, including other employers of record, and managing your own entity.
What is total cost of employment (TCE) and how do you calculate it?
Many countries require social security or other contributions and costs in proportion to the gross salary awarded to an employee. The total cost of employment, also known as TCE, is the sum of these contributions and the gross salary of the employee.
For example, in Portugal, an employer is required to pay an amount equivalent to 23.75% of the gross salary to social security, contribute the equivalent of 1% of gross salary to a mandatory compensation fund, provide labour accident insurance, bi-annual work medicine appointments, and 40 hours of training. All these elements make up TCE for employees in Portugal.
How do you calculate gross and net salary?
Gross salary is the pre-tax amount that is awarded to the employee. Taxes include social security contributions and/or other mandatory payments according to local laws, and income tax, which varies both according to local laws and the employee's personal tax situation.
Net salary is the post-tax amount that the employee actually receives in their bank account. The rules for calculating the net salary also vary from country to country according to their legal framework.
What is the security deposit and what is it used for?
To cope with unforeseen costs, we charge an upfront security deposit of 10% of the annual gross salary. The security deposit may be used for, but is not limited to, the following:
- cover difference between invoiced amounts and payouts to employees
- cover costs related to contract termination depending on the situation
If the amount of the reservations are unused by the end of the contract, we'll refund it back to you.
Are there onboarding or setup fees?
We don't charge onboarding or setup fees. In summary
- Upfront deposit: 10% of annual gross salary (not TCE, to be returned to customer if all goes well/not consumed by termination)
- Monthly reservations: 0
- Monthly fee: $599 per month per employee if billed yearly, $699 if billed month to month
Interested in employing through Remote? Contact us: https://remote.com/contact-us