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CSEC POA Payroll Terms Exercise

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Doreth Bridgeman
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136 views1 page

CSEC POA Payroll Terms Exercise

Uploaded by

Doreth Bridgeman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Net Pay Gross Pay less Total Deductions

Gross Pay Basic Pay + Overtime Pay

Basic Pay Normal working hours x Normal Hourly Pay

Overtime Pay Overtime Hours x Normal Pay x Time and a


half (1.5)

Voluntary Deduction Deduction the employee asks the employer to


take out

Statutory Deduction Compulsory Deduction taken from


employee’s pay…. Required by law

Income Tax Amount deducted usually based on income


earned… and from taxable income.

Taxable Income Amount on which Income tax is usually paid

Total Deductions ALL deductions made from employee’s


wages.. inclusive of income tax

Social Security A statutory deduction made from an


employee’s wages/ salary

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