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Co-Op

Co-Op 5th

TermDefinition
Salary Amount of money you make
Minimum wage lowest amount to earn; 8.25
Piecework Paid for how much you produce
Commission Have to sell to make money; 15% profit
Gross Pay Overall pay before deductions
Net Pay Pay before taxes
Pay period amount of time before next payday
Deduction Money taken out
FICA Federal Insurance Contributions Act
403B or 401K Retirement money
Equal employment opportunity Act Everyone is treated equally
Rehabilitation Act Guarantees certain rights to people with disabilities
Fair Labor Standards At Establishes minimum wage, overtime pay,
Affirmation Action Assertion that the testimony one gives is is true, under oath
Fringe Benefits Extra benefits supplementing an employees salary; health insurance, company car, etc.
Termination Notice Notice provided from the employer to the employee stating when the employees contract will end.
RIFFED Dismiss of employment
Severance Pay Amount paid to employee upon dismissal
Unemployment Compensation money that substitutes for wages or salary.
Soc. Security percentage 4.2%
Medicare percentage 1.45%
IL state percentage 0.05
Age Discrimination Act
Dependability Being on time
Employer expectations Honesty, positive attitude, cooperativeness, and dependability
Positive attitude Outlook on life
Cooperativeness Doing tasks without complaining
Accept criticism Keep an open mind
Loyalty "Don't bite the hand that feeds you."
Computing pay Gross pay & Net pay
Net pay calculations Savings, 403B, 401K and charities
Proper handshake Eye contact, smile, extend right hand, web to web, firm, 1-2 pumps and release.
Initiative Doing what needs to be done without being told.
Be productive Meet company goals
Honesty
Created by: ADSimkins
Popular Business sets

 

 



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