Salary from Foregin Based Startup
Hello, I am expecting an offer letter from a company based outside India. They are quoting their salary figures in USD. I wanted to get an idea from the members of this group about the things to keep in mind while being paid in USD. How much would I have to pay in conversion fees? Or does the employer typically take care of that?
I would need to provide them with invoices every month, for which they will pay me. So I have to take care of the tax on my own.
Does this mean that PF is not an option or can I deposit PF myself somehow?
What other kind of issues should I keep in mind?
How much would I have to pay in conversion fees? Or does the employer typically take care of that?
- Employer should take care of that, and you will get the final decided amount as employer will be bearing the cost. This will work slightly different if they will use Deel or any other similar platform
I would need to provide them with invoices every month, for which they will pay me. So I have to take care of the tax on my own.
- Yes, and you will fall under 44ADA tax scheme (look it up)
Does this mean that PF is not an option or can I deposit PF myself somehow?
- You will have to do it on your own, not sure if Deel has such options
What other kind of issues should I keep in mind?
- Keep your contract bullet proof from your side
- Get a idea of appraisal cycle from them if you can and get it mentioned in contract
- Ask them how extra work hours are compensated
Also, join remoteindian.slack.com (community of remote workers)
Tech stack ? YOE ?
5 YOE,
SQL/Python
Are they offering a standard salary or salary according to the Indian software developer market ?
Can I ask how did you got this offer?
I had applied through LinkedIn.
Can you DM? I can connect you to folks who are working on cross border solutions
Where to DM you?
You will have to file advance taxes