What is net pay??
for what purpose it is used for
Answers
Answer:
Net pay refers to the amount an employee takes home, not the amount it costs to employ them. Retirement plan contributions, employee benefits, and employer FICA taxes are deducted before an employee receives their net pay.
Answer:
Net pay definition
Net pay is an employee's earnings after all deductions are taken out. Obligatory deductions such as the FICA mandated Social Security tax and Medicare are withheld automatically from an employee's earnings. Other deductions come in the form of benefits, which may be optional.
Net pay refers to the amount an employee takes home, not the amount it costs to employ them. Retirement plan contributions, employee benefits, and employer FICA taxes are deducted before an employee receives their net pay.
Step-by-step explanation:
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