6.2% on the first $94,200 that an employee makes in a year.
Under the Federal Insurance Contributions Act (FICA), the current percentage of an employee's gross income that’s withheld for purposes of Social Security is 6.2 percent on up to the taxable wage base limit for that particular year. The taxable wage base changes each year with movements in the national wage index. Currently, in 2014, it is $117,000 but it's set to increase to $118,500 for 2015. Therefore, the highest amount that can be withheld from an employee towards Social Security cannot exceed $7,254 in 2014 and $7,347 in 2015. Any gross income in excess of the wage base for a given year is not subject to the contribution tax.
6.2% of an employee's income is withheld as their contribution to Social Security. This withholding is capped at a salary of $118,500
6.2
6.2%
Other than very special cases of government employees, that pay a very similar contribution, ALL employees are covered (or required to be contributed) employees. Period. If not an employee, the contribution that would be paid by the employer, is paid by the "contractor" or "self employed", but they are still covered. There are no elections or options for either the employer or employee in this.
a security threat assessment
It isn't the contribution to Social Security that determines when (or if) you qualify for unemployment. It is your work history, the amount of your wages and reason you left your job, etc. You get Social Security after a required number of quarters worked, your age, Social Security entitlements, etc. regardless of your job situation.
The required Social security and medicare taxes. Also known as the FICA taxes.
Per the IRS website it states: You are required to get each employee's name and Social Security Number (SSN) and to enter them on Form W-2. (This requirement also applies to resident and nonresident alien employees.) You should ask your employee to show you his or her social security card. The employee may show the card if it is available. You may, but are not required to, photocopy the social security card if the employee provides it. Record each new employee's name and social security number from his or her social security card
First, a company can not garnish an employee's wages. A court order is required to begin a garnishment of wages which a company is legally required to follow. Federal law mandates that a maximum of 60% of an employee's income can be garnished. This amount is determined by a judge and varies from situation to situation.
4.5% is withheld from your pay and the employer is required to match it.
The list can be very lenghty and include anything the employee wants. Common ones, some of which are required are: Federal and State income taxes, unemployment & disability insurance, other insurance, Social Security, retirement, other savings, medical ins contributions, union dues, charitable contribution programs, etc.
Are employers required to provide the employee copies of their W-4 and Employee Eligibility Verification hiring documents
If a foreign embassy employee is a us citizen or a green card holder he has to file income tax return. If he is a us citizen he will pay both income tax and social security taxes . If he is a green card holder he is not required to pay social security taxes but he is required to pay income tax.
No
Someone who is no longer required