When you receive a payout from RecruitiFi, several fees may apply, covering processing costs and platform fees. Here's a breakdown of the different fees that could affect your payout:
1. Processing Fee
Amount: 6% of the transaction amount.
Description: This fee covers the processing costs for each agency payout. In certain cases, the employer may cover part or all of this fee.
Example:
Placement Amount: $100,000 salary * 20% placement fee = $20,000.
Processing Fee: $20,000 * 6% = $1,200.
Final Amount: $20,000 - $1,200 = $18,800.
2. Matchmaking Fee
Amount: 14% of the placement fee.
Description: This fee is applied if RecruitiFi introduced the employer to the candidate.
Example:
Placement Amount: $100,000 salary * 20% placement fee = $20,000.
Processing Fee: $20,000 * 6% = $1,200.
Matchmaking Fee: $20,000 * 14% = $2,800.
Final Amount: $20,000 - $1,200 - $2,800 = $16,000.
3. Credit Card Collection Fee
Amount: 2.9% + 30 cents of the total invoiced amount.
Description: This fee applies if an employer uses a specific payment method that incurs additional costs (e.g., credit card).
Example:
Placement Amount: $100,000 salary * 20% placement fee = $20,000.
Sales Tax: $20,000 * 4.8% = $960.
Invoiced Amount: $20,000 + $960 = $20,960.
Credit Card Collection Fee: $20,960 * 2.9% + 30¢ = $608.14.
Final Amount: $20,000 - $1,200 - $608.14 = $18,191.86.
4. Withholding Tax
Amount: Varies by location and employer (e.g., 10-20% TDS in India).
Description: Employers in certain countries may withhold taxes at the source.
Example:
Placement Amount: $100,000 salary * 20% placement fee = $20,000.
Processing Fee: $20,000 * 6% = $1,200.
Withholding Tax: $20,000 * 10% = $2,000.
Final Amount: $20,000 - $1,200 - $2,000 = $16,800.
These fees can vary depending on the specific details of the placement, so it's important to review each JobCast's Estimated Earnings and Fee Acknowledgement for an accurate breakdown of the fees that will apply to your payout.