Payment

We handle large volumes of work and cannot make pre-payments. Payment will be made on a monthly basis. Our system of payment is explained below.

Payment Schedule

For work done in a particular month, the invoice should be sent by the 5th of the next month. All invoices are processed together, and payment is made on or before the 10th of the following month.

Payment Process

Invoice Details

1. Please bill (Invoice) according to our payment structure.
   1. From India →
      (i) Freelancer having bank account in India.
      Crimson Interactive Pvt. Ltd
      1001, 10th Floor, Techniplex-II Goregaon (w) Mumbai, 400062
      Phone:+91-22-6193-5000
   2. For Others →
      (i) Freelancer residing other than India
      Crimson Interactive Inc
      160 Greentree Dr, 101, Dover DE 19904 USA Phone Number: +1 877 712 2177
2. Your payment is processed only on receipt of the invoice. Please upload your invoice on https://www.ulatus.com/careers/translatorbrief/invoicesubssl.htm by the 5th of the billing month for all the documents you have completed in the previous month (e.g., send invoice for jobs completed in February by March 5):
3. Non Submission of invoice before 5th of the month will result in deferment of payment till next month’s payment cycle.
4. The invoice should be submitted irrespective of the volume for a particular month.

In your invoice for a particular month, please include only those assignments that have been completed by you in that calendar month. Please note that the date and time of upload in IST should be used to ascertain this - this is especially relevant for assignments completed towards the end of a month, or when assignments are confirmed in one month but completed in the next.

When we offer you an assignment, your fee is computed (as per the word count) in USD /INR/JPY. Fee in USD should be in two decimal places (e.g. $0.00) and fee in JPY Currency /INR should be rounded off. Please quote this exact amount in your invoice. Similarly, the total invoice amount (USD)should be computed to exactly two decimal places and the total invoice amount (JPY/INR) should be rounded off. Please do not approximate or round off totals for USD.

Payment Method

1. India: (Freelancer with bank account in India and PAN no.): The payment will be processed through Cheque. The Cheque will be deposited to your account. This will be domestic transfer. There won’t be any bank charges. You will receive full payment.
2. Japan: (Freelancer residing in Japan with bank account in Japan): The payment will be processed from our Japan subsidiary to your bank account in Japan. This will be domestic transfer. There won’t be any bank charges. You will receive full payment.
3. Others : ( Freelancers residing outside India and Japanese freelancers residing in Japan but have an bank account outside Japan): There are two categories:
   1. Freelancer with bank account in USA: The payment will be process from our USA account to your USA bank account. It will be Domestic transfer. There won’t be any bank charges. You will receive full payment.
   2. Freelancers with bank account outside USA: In consideration of bank charges we kept two mode of payment for this category as below. For more details refer Transfer Charges section below.
      
      (i) Payment below 400 USD will be processed through PayPal
      (ii) Payment above 400 USD will be processed through Bank transfer
      
      Where payment is processed from USA to other countries this will be an International Transfer.

Correspondent Bank/Intermediary bank:
For receiving remittances from foreign countries and in some foreign currencies, your bank may have a standing agreement with another bank (called a correspondent bank) which processes and routes the payment. Banks choose to negotiate agreements with multiple ‘correspondent banks’, depending on the currency used and the types of services outsourced.

Example: A US or Canadian bank receiving wire transfers in JPY will usually designate a correspondent bank in Japan to route such payments and act as an intermediary.

Please check if your bank uses such an arrangement. If so, please provide the routing/correspondent bank details to us – please note that without this payment the outward remittance will fail and the payment will be returned to our account.

Transfer Charges:

Although wire transfer is a more cost-efficient way of remitting payments internationally than PayPal, we request you to note the following information carefully.

Banking institutions charge transaction fees for international wire transfer. These can be classified into:

1. Sending charges: Levied by the sending bank (our bank). We bear these charges completely
2. Intermediary bank charges: Levied by the intermediary or correspondent bank. These are generally in the range of JPY 1,000 – 1,500 per transaction. As these are levied after the payment has already been processed by our bank, we cannot bear these charges. You will need to bear these charges (your account statement will show a corresponding deduction in the amount remitted though not the charge directly)
3. Recipient bank charges: Levied by the recipient bank (your bank). You are required to bear these charges to accept international wire transfers, which are generally in the JP 2,000 – JPY 3,000 range per transaction. These charges are separately indicated in your account statement.
4. PayPal Charges: PayPal Charges a 4% transaction fee for every transaction.

Please note that the intermediary bank fees are not shown in the statement.

Tax Implication

1. Payment processed from India: TDS will only be deducted when your total amount exceeds INR 30,000 (i.e., 30,000 Indian rupees) in financial year. We will issue a TDS certificate on a quarterly basis) against the deducted tax and the same can be presented to your Income Tax Department when you file your income tax returns for the year. Accordingly, you can claim a rebate for the amount deducted as per your tax liability.
2. Payment Processed from Japan: For Japanese 10.21% withholding Tax will be deducted. At the yearend we will provide you with Tax deduction certificate for the amount deducted. You can claim your tax exemption from the NTA (National Tax Agency).
3. Payment processed form USA: For USA resident we process payment from USA, there will not be any withholding Tax. At the year-end we will share Form 1099.

Please note : as per IRS Rules and Regulations if your total amount during the year is less than 600$ then no form 1099 is provided.

Tax Compliance Documents:

As per IRS requirement please share the below mention documents:

For person US Citizen or Residing within US and for Company or firm having establishment in USA, except

(a) Freelancer residing in Japan & having bank account in Japan
(b) Freelancers residing in India.

Form W9:
As per taxation norms in the US, freelancers are required to fill the W9 form (for Individual, Company and firm), which acts as self-declaration wherein you have to mention the tax identification number and other details as required.

For person residing outside USA

Form W8BEN:
As per taxation norms in the US, this is a self-declaration document required to be filled by freelancers.

Guidelines to fill the form:

We have also attached a

• PART - I Freelancers should mention their personal details
• PART - II point no. 9 Freelancers should mention their country of residence
• In PART- II point no.10 Freelancers should mention Article of DTAA. Freelancers need to check their country’s Article of DTAA and mention it on the form (Check below link for DTAA details). In case the country of residence is not listed, please mention N/A [Not Applicable] in the Article field. In the rate field mention 0 %.
• PART- I point no. 6 → is compulsory

Self-declaration letter
We have also attached a template containing fields for some details required for self-declaration purposes. Please sign and send the scanned copy of the same.

self-declaration-letter.doc

For Company or firm having establishment outside USA

Form W8BENE:
As per taxation norms in the US, this is a self-declaration document is required o filled by freelancers.

Guidelines to fill the form:

• PART - I Freelancers should mention their personal details
• PART- I point no. 9 (b) is compulsory
• PART – III point no. (a) country of residence
• PART III point no. 15 Freelancers should mention Article of DTAA. Freelancers need to check their country’s Article of DTAA and mention it on the form (Check above link for DTAA details). In case the country of residence is not listed, please mention N/A [Not Applicable] in the Article field. Also in the rate field 0 % should be mentioned. Rest of the details should be filled as per the applicability as mentioned in the form.

Self-declaration letter
We have also attached a template containing fields for some details required for self-declaration purposes. Please sign and send us the scanned copy of the same.

self-declaration-letter.doc

Note:

• Along with Form W8BEN and W8BENE we also require self-declaration letter.
• Please refer to the following link for List of countries and their respective Articles of DTAA (Refer article no. for Independant Personal Services) :-
  http://www.irs.gov/Businesses/International-Businesses/United-States-Income-Tax-Treaties---A-to-Z
  In case your country is not mentioned in the above link please mention N/A
• You need to send this document every year (calendar Year).