Asked by
usmanb shahid
on Nov 15, 2024Verified
Net pay is the same as:
A) gross pay.
B) take-home pay.
C) before taxes pay.
D) pay before deductions.
Net Pay
The amount of money that an employee actually receives after all deductions, such as taxes and retirement contributions, have been subtracted from their gross pay.
Gross Pay
The total amount of salary or wages earned by an employee before any deductions are made for taxes and other withholdings.
Take-Home Pay
The amount of income left after deductions like taxes and social security contributions are subtracted from the gross salary.
- Understand the differences between gross pay, net pay, and taxable earnings.
Verified Answer
SM
Learning Objectives
- Understand the differences between gross pay, net pay, and taxable earnings.