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15 Cards in this Set
- Front
- Back
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wage
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The amount of money paid for a specified quantity of labor
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salary
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A set amount of money paid for a set period of time worked
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commission
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Income paid as a percentage of sales made by a salesman
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tip
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Money paid by customers to those who provide services
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bonus
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Money paid in addition to base pay, either as a reward for performance or as a share of profit
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paycheck
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A form of payment to an employee
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direct deposit
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An employer deposits the employee’s paycheck dirctly into the authorized employee’s depository institution account
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payroll card
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A prepaid card that is offered to employees as an alternative to paper paychecks or directly depositing wages into an employee’s depostiory institution
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paycheck stub
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This part lists the paycheck deductions as well as other important information
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pay period
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The length of time for which an employee’s wages are calculated
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gross pay
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The total amount of money earned during the pay period before deductions
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net pay
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The amount of money left after all the deductions have been taken from the gross pay earned in the pay period
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deduction
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Money subtracted from gross pay for required taxes, employee insurance, and retirement benefits
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federal withholding tax
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The amount required by law for employers to withhold from earned wages to pay federal income taxes
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state withholding tax
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The percentage deducted from an individual’s paycheck to assist in funding government agencies within the state
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