Any change in fees will be updated on this page 30 days prior to the change made effective.
FEES CHARGED TO FREELANCERS
As set forth in the User Agreement, MyCoder follows a bi-weekly payment disbursal cycle. Payments are released on first banking day of month; and, on the 15th day or immediate banking day after 15th day of the month.
A variable Service Fee between 5% to 15% is charged to Freelancers. The Service Fee rates decrease based on the total Freelancer Fees collected from the same Client.
| TOTAL FREELANCER FEES COLLECTED FROM CLIENT | SERVICE FEE RATES |
| INR 35000 and below | 15% |
| Between INR 35000 to INR 5 Lac | 10% |
| INR 5 Lac and above | 5% |
Below are some examples of above tiered Pricing.
Example 1. Completing first Job for a client
If a Freelancer and a Client who have never entered into a Service Contract together before agree to a INR 50,000 Job, the Service Fee will be calculated as follows:
| FREELANCER FEES | SERVICE FEE RATES | SERVICE FEES |
| INR 35000 | 15% | INR 5250 (INR 35K x 15%) |
| INR 15000 | 10% | INR 1500 (INR 15K x 10%) |
| Total Freelancer Fees: INR 50K (Budget Of Project: INR 50K) | Total Service Fees: INR 6750 |
Note: The Service Fee will appear as a single amount in your Account, rather than separate amounts as shown in the example above. Examples in this Agreement are provided for illustrative purposes only and are not binding. Because of rounding, the Service Fees charged may differ slightly.
If the same Freelancer and Client agree to another INR 50K Job, the Service Fee will be calculated as follows:
| FREELANCER FEES | SERVICE FEE RATE | SERVICE FEES |
| INR 50K | 10% | INR 5000 (50K x 10%) |
| Total Freelancer Fees: INR 50K | Total Service Fees: INR 5000 |
If the same Freelancer and Client enter into additional Jobs, the Freelancer Fees for each Job will count toward the total Freelancer Fees collected for purposes of determining the Tiered Pricing that applies to the Service Fees. If the Freelancer collects INR 5 Lac in Freelancer Fees from the Client, then the Service Fee on any additional Freelancer Fees for the Jobs with the same Client will be 5% of the Freelancer Fees. For example, if the Freelancer has collected a total of INR 6,00,000 Lac in Freelancer Fees from the client; and, the Freelancer and Client enter into a Job for INR 50K, the Service Fee would be determined as follows:
| FREELANCER FEES | SERVICE FEE RATE | SERVICE FEES |
| INR 50K | 5% | INR 2500 (50K x 5%) |
| Total Freelancer Fees: INR 50K | Total Service Fees: INR 2500 |
2. DISBURSAL FEES
A maximum disbursal fee upto 2% is charged to cover payment gateway costs and administrative costs, for releasing payments to Clients. Any disbursal fee is not charged when processing refunds.
2. FEES CHARGED TO CLIENT
Regardless of the type of Payment Method, we charge Clients a Payment Processing Fee of 3% on each payment made by the Client through Site (the “Payment Processing Fee”).
If payments made by a Client are returned to Client’s bank account or credit card for any reason, or refunded by a Freelancer, the Payment Processing Fee will not be refunded.