Managing employee payments and related financial activities.
payroll – the total amount paid to employees for services they provided during a certain period.
gross pay – total amount of money earned by an employee before deductions.
net pay – amount of money an employee takes home after deductions.
deductions – amounts subtracted from an employee's gross pay.
benefits – forms of value, other than payment, that are provided to the employee in return for their contribution to the organization.
wage garnishment – a legal procedure where a portion of an employee's earnings are withheld for the payment of a debt.
payroll tax – a tax imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.
timekeeping – tracking and managing the amount of time employees spend on the job.
compensation package – the combination of salary and fringe benefits an employer provides to an employee.
...
This is not all! Sign up to see the rest of this text and become part of our community of language learners.
...
commission – compensation based on a percentage of sales made.
stock options – the right to buy a company's stock at a predetermined price.