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.
Save. monkeybusinessimages/iStock/Getty Images. The term per diem means per day, but it may relate to two issues in the workplace. Per diem may refer to the money paid for business travel expenses or to a position without set hours or a predetermined schedule.Per diem employees in a hospital, for example, are called and offered work on an as-needed basis.ave. monkeybusinessimages/iStock/Getty Images. The term per diem means per day, but it may relate to two issues in the workplace. Per diem may refer to the money paid for business travel expenses or to a position without set hours or a predetermined schedule.