FAQS
What Are Some Valuable Payroll Terms To Know?
Wages withheld from an employee's earnings for the purpose of paying taxes, benefits and other mandatory items (e.g., garnishments) or voluntary contributions (e.g., charitable donations).
Total pay before taxes and deductions.
Final amount or the Take-home pay after taxes and deductions are subtracted from earnings.
Money received, especially on a regular basis, for work or thorough investments.
Extra pay made to employees in addition to their base salary as part of their wages or salary.
A compulsory contribution to state revenue, levied by the government on workers income and business profits.
Tax imposed on individuals or entities in respect of the income or profits earned by them.
Withholding tax is income tax that is withheld from an employee’s wages and paid directly to the government by the employer.
The fixed amount paid to employees, in addition to basic salary, for covering expenses of activities.
Payment made to employees for work done in a specific period of time.
It is used for an employer to pay federal taxes online.
Legal proceeding authorizing an involuntary transfer of an employee’s wages to a creditor to satisfy debt.
All monetary and non-monetary payments, including the value of benefits, received by an employee.
A summary document that demonstrates the factors – number of hours worked, the rates paid for those hours, deductions for taxes and benefits, etc. – that were used to calculate an employee’s pay for a designated period of time.