FAQ about salary

FAQ about salary

When do I get paid as an independent contractor?

You get paid within 24 hours of us receiving payment from your client. You can select payment terms of 10, 20 or 30 days for your invoices (i.e. the number of days your client has to pay). We notify you by email when we receive your client’s payment.
Need to be paid even quicker? You can apply for Cool Company’s ExpressPay® service. That way, you get paid as soon as we’ve approved your ExpressPay® application and the client has approved your invoice.

Read more about ExpressPay®

What is your fee, and what’s included?

Cool Company takes a fee of 5.98% of the invoiced amount excluding VAT.
The fee includes:

– Reporting and paying taxes, contributions and VAT to the Swedish Tax Agency.
– Paying your salary with the tax already deducted.
– Bookkeeping, auditing (KPMG) and debt collection (Intrum Justitia) – but please note that legal matters are not included in debt collection.
– Administering your ROT & RUT (non-commercial clients) deductions.

There are no fixed fees or hidden charges.

Where can I see how the invoiced money is split and what my salary will be?

When you create an invoice for your work, you can always see your net salary at the bottom of the screen. Click on the ‘Our calculation’ heading to view a detailed summary of the invoice’s various costs, including the ones you are paying to Team members, and ROT or RUT costs.

Tip: Before accepting an assignment, you can work out what your salary will be depending on the size of the invoice. This can be useful when deciding how much to charge for an assignment.

Try calculating your salary after tax.

Where are my salary specifications?

You will find your salary specifications at the bottom of the My Money page. To get there, go to the Dashboard and click on My Money.

The salary specification for the current month is updated every time you request a payment. The specifications for previous months contain the complete accumulated summary.

Should I notify Cool Company before I start working on the assignment?

You must register your assignment to ensure that insurance cover and unemployment insurance are in place before you start working. The easiest way to do this is to create an Assignment in the online portal and send it in to us, or by emailing us at fakturera@coolcompany.se.

Tip: When you have created an assignment in the portal, you are just a push of a button away from creating a complete specification of details for your upcoming invoice.

Do I sign some kind of agreement with you, and what exactly is my form of employment?

When you submit an invoice, you also accept the agreement and the applicable General Terms & Conditions.

You are a general fixed-term employee of Cool Company, on a contractual basis. Your employment begins and ends with each assignment you complete, and your time worked is what you invoice for.

Bear in mind that you need to pre-register an assignment to ensure you have full insurance cover, the right details for unemployment insurance and so on.

Am I insured as an independent contractor with Cool Company?

As an independent contractor with Cool Company, we make sure you are safely insured. We offer perhaps the best insurance cover on the market for independent contractors. You are always covered by our occupational injury (TFA) and group life (TGL) insurance when you are on assignments approved by Cool Company. In most cases, you’re also covered by our liability insurance.

For assignments in construction and ROT, you will need to take out additional insurance specially tailored for the construction sector. Since many of Cool Company’s independent contractors work in construction, we have been able to negotiate highly competitive liability insurance with Trygg Hansa. If you would like to know more about our excellent value insurance cover for construction jobs, or any of our other insurance policies, please contact Customer Support.

Can I get a certificate of employment?

If you have worked through us and have had your invoice paid, you can request a certificate of employment. To do this, please email your name, personal number (personnummer) and the period you want the certificate to cover, to: info@coolcompany.se.

When is the verification data sent for my tax self-assessment?

Cool Company sends out complete verification data for the relevant self-assessment period, in January every year.

What is ExpressPay™?

ExpressPay is a loan service over and above the normal invoicing/admin service. With ExpressPay, we pay your invoice within 24 hours after your client confirms you have completed the assignment.