Just done another quick calculation - for a contractor earning 500 Per Day and paid monthly Parasol's effective "FEE" is 241.71eek
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Originally posted by geoff from contracta IOM View PostJust done another quick calculation - for a contractor earning 500 Per Day and paid monthly Parasol's effective "FEE" is 241.71eekComment
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Originally posted by geoff from contracta IOM View PostJust done another quick calculation - for a contractor earning 500 Per Day and paid monthly Parasol's effective "FEE" is 241.71eek
Would this explain the increase in the fees charged or retained (not quite sure) by Parasol?
...and if so, surely this is getting around the whole point of what the new rules intended, to be paid for 4 weeks if not on contractComment
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Originally posted by Technofobe View PostThe umbrella company that I am going with have explained that people are losing out in net pay since 1st October because companies such as Parasol are "rolling up" (don't quite understand the term) any money that would be paid out between contracts, and therefore due to minimum wage they can't claim the expenses as before. They said that the pay between assignment is a right under the rules not that we should have to have pay held back to cover it.
Would this explain the increase in the fees charged or retained (not quite sure) by Parasol?
...and if so, surely this is getting around the whole point of what the new rules intended, to be paid for 4 weeks if not on contract
Thanks
ChrisComment
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Originally posted by Technofobe View PostSorry, I should add, that before deciding on who to go with today, after speaking to 4 companies, non of them will hold back pay to cover between contracts.
Thanks
Chris
How is your umbrella funding the PBA? either your end client has agreed to cover the cost, your agency has agreed to take a hit on their margin, or the umbrella is paying it out of their own funds?
Thanks
StevenComment
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Originally posted by Steven@Parasol View PostHi Chris?
How is your umbrella funding the PBA? either your end client has agreed to cover the cost, your agency has agreed to take a hit on their margin, or the umbrella is paying it out of their own funds?
Thanks
StevenComment
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Steven can you clarify for me , maybe I am calculating wrong but do you calculate employment costs at 13.8 % of invoice value OR 13.8 % of the balance after deducting your fee and the 136 LEL for NI contributions ?
If the fee and LEL deductions are made first then surely is is only employers NI the contractors are paying with nothing else included for PBA , SSP , SMP , HP ect ?Comment
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Originally posted by geoff from contracta IOM View PostJust done another quick calculation - for a contractor earning 500 Per Day and paid monthly Parasol's effective "FEE" is 241.71eekComment
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Originally posted by guayacan View PostIf Parasol are not performing a scam, then why did they try to hide all this in "employment costs". No other company is doing this. I am still being robbed and it is illegal not to give the amount and purpose of any monies on a payslip. This is a scam. Every other contractor I have spoken too has no trouble, only Parasol. So....
Update
Sorry it looks like I can't PM you. My direct email is [email protected]Comment
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