because they are two different things. a salary is a fixed amount of money that an employee will get, for example, £20,000 per year. other work, such as overtime will not affect the salary and the employee will receive the fixed amount regardless of any extra work he/she may have done. a wage is the amount of money that an employee will receive per hour, for example, £5 per hour. this means that the amount of money a person earns is based on the amount of time they spend working. overtime is included in this, and some employees may get about 50% more per hour doing over time.
CompensationCompensation
Your years salary is called your gross salary
It's neither assets nor liability if a salary is already paid, it's called expense. But a salary before the payment would be called liability and after the payment it is going to be called an expense
stipend
annual salary means yearly salary. It is also called P.A. which means per annum.
If a person is bumped up to the next salary notch, they are given a raise in pay. A salary notch is a level of pay.
compensation
It is your salary or your wages.
The President's salary is called compensation.
Money taken out of a salary for such things as taxes, insurance, and retirement funds are called deductions.
Salary is not an expense. -Please re-write so it makes a logical query.
It is a Gross salary which have no any deduction such as EOBI,PF,and medical. when it deduction from gross salary is called net salry. Regards,umar shahzad Gujjar M.COM