SM - a master's degree in science Master of Science, MSc, MS master's degree - an academic degree higher than a bachelor's degree but lower than a doctor's degree
DEFINITION of 'Per Diem Payments'. Generally, a specified amount that employers will pay to employees as reimbursement for various expenses. Per diem payments usually assume a set dollar limit, such as $30 per day for meals or $100 per day for lodging. These payments are usually made for employee travel expenses.er diem payments are usually counted as nontaxable income to employees, up to a certain amount, and any excess reimbursement is included in box 12 of the W-2 form. The IRS allows a preset amount to be excluded from taxation for each type of per diem expense. RELATED TERMS.
Per Diem: a daily allowance paid to staff to cover all meals and minor incidentals while travelling on approved University business. The payment of a per diem is intended to ensure that an employee neither loses nor gains financially by receiving a per diem payment.1  only if requested prior to undertaking the travel. 2  where the duration of the travel is no more than 30 days.here are a number of conditions that must be met before the payment of a per diem can be considered. The Office of Financial Services (OFS) reserves the right to withdraw the option of a per diem if, in its opinion, a staff member or budget unit is not acting within the spirit of this Schedule.