Scribd
Upload
149 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.
Available Formats
Download as PDF, TXT or read online on Scribd
149 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.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

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

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy