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What are types of payroll deductions?

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2008-08-09 10:21:34
2008-08-09 10:21:34

Deduction from employees, Earnings for employees, Employee statutory deductions, Employers statutory contributions, Gratuity, Loans and advances and Reimbursement to employees are the types of payroll deductions

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You can have as many deductions are offered or you wish. There is no maximum limit for deductions on payroll.


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Payroll Deductions Use this calculator to help you determine the impact of changing your payroll deductions. You can enter your current payroll information and deductions, and then compare them to your proposed deductions. Try changing your withholdings, filing status or retirement savings and let the payroll deduction calculator show you the impact on your take home pay. This calculator has been updated to use the new withholding schedules for 2010.


Here's a link to a website that explains all about payroll tax deductions and how to handle them. http://taxes.about.com/od/payroll/qt/payroll_basics.htm


Generally speaking, employers report payroll by calculating gross pay and various payroll deductions to arrive at net pay. While this seems simple enough to understand, calculating various payroll deductions requires that the payroll accountant be detail-oriented and work with extreme accuracy.


One type of payroll deduction is all the taxes you have to pay such as federal, state and social security. Another type of deduction is your health insurance.



In a company "Payroll" is a sum of all financial record. it consist of salaries, wages, bonuses & deductions.


Use the POPULAR paystub maker at http://www.INCOMEDOCUMENT.com calculate EVERY payroll stub deduction and tax!


Medicare and Social Security are the payroll deductions withheld under FICA. These federal benefit programs are a part of the Federal Insurance Contributions Act.


Payroll taxes are based on gross income, i.e., before deductions such as child support.


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.


You will always want to deduct any taxes that are paid out of your income. You can also deduct premiums for life insurance, as well as other types of insurance.


There are several tax deductions that appear on a payroll statement. These are FICA, which is Medicare and Social Security, along with income tax and OASDI. OASDI stands for old age, survivors, and disability insurance.


The payroll department is a key feature of a company's internal expense functions. As such the payroll department must interact with several areas: A. The accounting department will need to explain certain payroll practices. Such as making sure the company's budget for payroll is within the budget guidelines; B. If the payroll department is part of human resources, then accurate payroll records will help any disputed pay problems for employees; and C. The payroll department has government regulated payroll deductions. Internal auditing will need to ensure that the proper deductions are being made.



Payroll is a process to mange employees Salaries,Net pay tax deductions and their holiday pay. I know a web base solution of this problem with the name of "Simplepay".


This term pertains to payroll deductions that are taken from payroll checks. The statutory/mandatory deductions taken from your payroll check are 1-Federal Income Tax. 2- Social Security Tax. 3- Medicare. 4- State Taxes (if applicable.) These taxes are deducted from your gross pay amount before any additional voluntary deductions are taken. What is left is your net pay or disposable wages. If you have a garnishment issued against your payroll, this is the money that is used to determine what is paid to the creditor. Usually a percentage of your disposable income is requested and your payroll office will be able to tell/ show you how they came to that number. They will also be able to tell you how much you have paid and when the garnishment will end. Don't be afraid to ask them.... it's their job. Voluntary deductions would include: Medical/ dental insurance, 401K, Aflac, garnishments (child support, creditor..).


Save time, money and avoid manual calculation errors. Use <a href="http://www.realtaxtools.com">payroll taxes</a> software software to automatically calculate payroll taxes, withholdings and deductions. Payroll software supports federal tax forms.


payroll register, employee earnings record, and payroll check


The summary statement attached to a paycheck that summarizes income, tax withholdings, and other deductions.


A payroll is a list of people that you employ who you pay a wage or salary for the work they do for your company. This also includes details of any deductions taken from their wages weither statutory or voluntary.


Payroll deductions are also called withholdings. Things typically withheld from earnings are state and federal income taxes, social security, and national insurance.


To offer convenience for its valued customers, The Prudential Insurance Company does offer payroll deductions to help make it easier to afford optional term life insurance.



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