Personal Finance
Restructuring HR through contracting
Monday May 03 2021
Depending on how the contract is drafted, an independent contractors term can be exclusive or non-exclusive. PHOTO | FILE
One of the biggest fixed costs for a business is the human resources (HR). Depending on the number of employees, the cost is usually the largest expene due to payment of salaries and other associated costs like medical cover, pensions and statutory deductions.
The statutory costs are mandatory and include National Hospital Insurance Fund(NHIF), National Social Security Fund( NSSF) and Pay-As-You-Earn (PAYE). Medical cover and pension are optional.
Due to Covid-19 economic fallout many businesses ha…
Read the full article at: https://www.businessdailyafrica.com/bd/lifestyle/personal-finance/restructuring-human-resource-through-contracting-3386278