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Hi fishes! I had asked for benefits other than CTC which Bank of America provides & now that I've completed 1 month here, here's the list of allowances you'll be getting irrespective of position/band:
1. Sodexo: 1300 p.m./ 15,600 p.a.
2. Transport allowance: 900 one way, 1800 two ways p.m./ 21,600 p.a.
3. Internet: 1500 max p.m. (other than that, one time installation charges)
4. Tuition fee: Any certification related to your field. Like CFA, FRM etc. 3,00,000 p.a.
(See Comments)
ZS London compensation and benefits?
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Don’t start or register a company - stops all unemployment.
Nope! It’s your money to do with what you please.
That correct - it’s yours to do what you want.
The only place unemployment gets tricky is when you start freelancing and you have to report your earnings on a weekly basis. If I remember correctly, the best thing to do is consolidate your freelance hours into a single week if you can instead of spreading them out over several weeks even if that’s how you did the hours. It’s been a while, so I’m a little fuzzy on the details.
I bought my wife’s wedding ring with unemployment money.
Ok to freelance just be sure you are not going to be on. W2. I got caught. I was freelancing for a company onsite so they had me log time into their system. Even though it was only 10 hours per week’ they are reporting to the state because by law you are an employee. Even if you are not!! I had to pay back the unemployment. With a penalty. And was locked out of the system for two weeks. In the end I probably on got 4 weeks of unemployment. If you are on a 1099 then you should be fine because you are invoicing them. But just check with your accountant so you do t get in trouble.
Thanks everyone. @ ACD do you remember what the drawbacks are of reporting hours as they happen each week?
The other side of this is that freelancers don’t have hours reported to the govt, just wages via a 1099 later. So it is possible to freelance and collect unemployment. They will not know you worked.