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FinAlg C6

Financial Algebra C6

TermDefinition
employment agency a business that has lists of job openings and charges a fee to find jobs for people
fee paid when the employer, instead of the employee, pays the fee to an employment agency
resume a short accounting of a job-seeker's education and qualifications for employment
Form W-4 Employee's Withholding Allowance a form that is filled out by a new employee that gives directions to the government on how much money in taxes to deduct from an employee's pay
benefits
discount
weekly
biweekly
semimonthly
monthly twelve times a year
direct deposit
hourly rate
regular hours
overtime hours the extra hours an employee works beyond their regular hours
overtime hourly rate the hourly wage an employee receives for any overtime hours
time-and-a-half overtime
double-time overtime
gross pay
minimum wage the hourly rate that federal law allow as the least hourly rate be paid to an employee in the United States
commission
royalty
pieceworker a type of worker who is paid for each item the employee produces
piecework rate the set amount of money that a worker receives for each item the individual produces
Social Security
Federal Insurance Contributions Act the federal act that established Social Security insurance
FICA tax the money that an employee and employer contribute to Social Security and Medicare
Social Security tax
Medicare tax
maximum taxable income the maximum income on which a person must pay Social Security tax in a given year
Social Security number
 



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