Salary and Pay Rates

Is salary after deductions known as net pay?


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2011-07-23 08:00:05
2011-07-23 08:00:05

Yes. Before deductions it's called gross.

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Pay including all benefits is called a gross pay. However, after deductions carried, it may be termed as "NET" pay or 'take home salary'.

Let's say your employer agrees to pay you $1000 per month, and then (for example) 20% of that is deducted for taxes and social benefits, so you only get $800. The gross salary is the salary before the deductions. In the above example, 1000. The net salary is after the deductions. In the example, 800.

No that's GROSS PAY Net pay is what you have after ALL deductions have been calculated and subtracted

Net pay = gross pay - deductions. Or in percentages: Net pay = gross pay x (1 - percentage of deductions / 100) If you have any two of these, you can solve the third. For example, in the last formula: gross pay = net pay / (1 - percentage of deductions / 100)

No, net pay is your take home pay after taxes and other deductions

Gross pay amount is without any deductions while net pay amount is after adjusting the required tax or other deductions.

Net pay is what you take home after all deductions.

Gross wages (salary) is before any deductions, like taxes, are removed. This is your base wage times however many hours you work during the pay period. Net wages (salary) is what you have left after all the deductions are paid. Net is what you can spend.

The amount you take home. Net pay is the gross pay less all deductions.

The difference between gross pay and net pay is that gross pay is the amount that you receive before tax deductions and pay net is the money you take home after all the tax deductions

if you are paid biweekly, you may get a net pay of around $950. It actually depends on the deductions.gross pay: $1120less deductions:tax: $168 for 15% tax rateyou may try experimenting on rates and salary estimation using the linked calculator below.

Gross pay - all deductions and taxes = net pay.

Net pay is what remains from gross pay after all deductions, such as tax, have been made. It is your 'take home' pay.

Net Pay is calculated by determining the gross pay, then subtracting federal withholding, any State withholding, Social Security and Medicare deductions, and any voluntary deductions, such as insurances.

Your GROSS pay is before any deductions. Compute deductions, subtract them from your gross pay, and get your NET pay- that is how much you get to take home.

The Payroll Management System is a computer program that deals with issuing payroll slips to employees. They organize salary, gross pay, deductions and net pay.

Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work roll: Definition: The administration of the financial record of employees' salaries, wages, bonuses, net pay, and deductions

Gross. It's what you earn before any deductions.

gross pay= the amount a person is entitled to net pay= the amount a person is given after the deductions of different taxes and insurances.

Net pay is the money you actually recieve after all tax and other duductions are taken from your gross pay (total pay before deductions).

Gross pay is what you make before any deductions. If a job is advertised at $30,000 a year, then that's the gross pay. Net pay is what's left after taxes, health benefits and other deductions are taken out of your check. So gross pay of $30,000 would become something like net pay of $22,564.

a sum of money before any thing like taxes or insurances or pension funds are taken off, that is called ' gross salary" after all the deductions are taken off you have what is called "net salary" or take-home pay.

Gross Pay is the salary for the period or the number of hours worked multiplied by the hourly rate. Then, deductions are made from gross pay to arrive at net pay. These deductions will vary depending on where the wages were earned. Typically, there will be a combination of Federal, State and possibly local taxes. These taxes may be income taxes, social security, unemployment, disability, etc. There may also be voluntary deductions for things like health insurance or a pension plan.

Look it up..... You have to read something in order to answer something... Duuhhh.... But its gross pay is net pay minus deductions.

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