Understanding Your Pay Statement

Created by Okito Support, Modified on Thu, 26 Sep, 2024 at 11:21 PM by Okito Support

1. Trip Earnings:

  • This section lists the total amount earned from completed trips. It includes:

    • Base Fare: The fixed amount you earn for starting a trip.

    • Distance Fare: The amount earned based on how far you traveled.

    • Time Fare: Compensation for the time spent on the trip.

    • Surge or Peak Pricing: Additional earnings during high-demand periods.

2. Incentives and Bonuses:

  • Incentives may include bonuses for completing a certain number of rides, peak-hour driving, or high customer ratings.

  • These are added to your overall earnings and can significantly boost your total pay.

3. Deductions:

  • Commission: The platform typically deducts a percentage of your earnings (e.g., 15% to 20%).

  • Service Fees: Any other platform fees or transaction costs related to payment processing.

  • Other Deductions: This may include costs like in-app purchases, if applicable, or penalties for breaking terms of service.

4. Tolls and Reimbursements:

  • If you paid any toll fees during your trips, these should be listed here and reimbursed to you in full.

5. Payouts and Withdrawals:

  • This section shows the total amount deposited to your account after all deductions and reimbursements.

  • It may also include details of weekly or bi-weekly payouts depending on the platform’s payout schedule.

6. Taxes:

  • Depending on local regulations, your pay statement may include a breakdown of tax deductions or other withholdings related to your income as a driver. These can vary based on your location or the tax agreements you have in place with the platform.

7. Miscellaneous Fees:

  • Any other fees, such as penalties for late cancellations, or any charges related to the platform’s policies, will be listed here.

How to Read Your Statement:

  • Look for the net earnings figure, which shows the final amount you’ll receive after all adjustments, commissions, and fees.

  • If you’re eligible for bonuses or incentives, make sure they’re accurately reflected in the statement.

  • Review the toll reimbursements to ensure that you’ve been properly credited for any out-of-pocket expenses during your trips.

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