Work Compensation and Forms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Wage | The amount of money paid for a specified quantity of labor.
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| Salary | A set of money paid for a set period of time worked.
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| Commisson | Income paid as a percentage of sales made by a salesman.
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| Tip | Money paid by customers to those who provide services.
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| Bonus | Money paid in addition to base pay, either as a reward for performance or as a share of profit.
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| Paycheck | A form of payment to an employee.
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| Direct Deposit | An employer deposits the employee's paycheck directly into the authorized employee's depository institution account.
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| Payroll Card | A prepaid card that is offered too employees as an alternative to paper paychecks or directly depositing wages into an employee's depository institution.
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| Paycheck Stub | This part lists the paycheck deductions as well as the other important information.
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| Pay Period | The length of time for which an employee's wages are calculated.
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| Gross Pay | The total amount of money earned during the pay period before deductions.
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| Net Pay | 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 | Money subtracted from gross pay for required taxes , employee insurance, and retirement benefits.
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| Federal Withholding Tax | The amount required by law for employers to withhold from earned wages to pay federal income taxes.
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| State Withholding Tax | The percentage deducted from an individual's paycheck to assist in funding government agencies within the state.
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Created by:
Le'Quisha
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