Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
What is wage?
|
Wage is how much an employee hourly and is usually paid weekly.
|
|
|
What is salary?
|
Salary is a yearly figure paid monthly and on a specific date.
|
|
|
What is a bonus?
|
A bonus is extra payment when an employee or groups of employees have achieved certain targets. e.g. increase profit by 5%.
|
|
|
What is gross pay?
|
Gross pay is what you earn before deductions are subtracted from your salary.
|
|
|
What is net pay?
|
Net pay is gross pay minus deductions.
|
|
|
What is national insurance?
|
National insurance is compulsory payment for people who are sick, unemployed or retired to provide assistance.
|
|
|
What is hourly rate?
|
Hourly rate is how much you earn hourly and people work out their hourly rate using their salary.
|
|
|
What is piece work?
|
Piece work is how much you get paid for a piece of work.
|
|
|
What is overtime?
|
Overtime is when you get paid for work you complete that cant be completed in normal hours of work.
|
|
|
What is commission?
|
Commission is additional payment for an employee when an item is sold.
|
|
|
What is performance related pay?
|
Performance related pay is when an employee is paid for how well they work. ( its their salary)
|
|
|
What are union subscriptions?
|
Union subscription is when you pay for someone to help you.
|
|
|
What is income tax?
|
Income tax is tax that you have to pay for what income you get, but you don't have to pay for all of your income.
|
|
|
|
|
