Payroll

A national contributory retirement pension scheme.

A card issued to each employee that the employee inserts in a time clock to record the time of arrival and departure to and from work.

Payments by an employer, in addition to wages and salaries, that are made to acquire employee benefits such as insurance coverage and retirement income.

An employee/employer-financed unemployment insurance plan.

The amount an employee earns before any deductions for taxes or other items such as union dues or insurance premiums.

A record of an employee's hours worked, gross pay, deductions, net pay, and certain personal information about the employee.

The amount an employee is paid, determined by subtracting from gross pay all deductions for taxes and other items that are withheld from the employee's earnings.

A special bank account a company uses solely for the purpose of paying employees by depositing in the account each pay period an amount equal to the total employees' net pay and drawing the employees' payroll cheques on the account.

An amount deducted from an employee's pay, usually based on the amount of an employee's gross pay.

Amounts that may be deducted from an individual's income taxes and that determine the amount of income taxes to be withheld.

The process of recording the time worked by each employee.

A table showing the amounts to be withheld from employees' wages at various levels of earnings.