A | B |
personal information | The employee's full name, address and SS number |
pay period | The length of time for which an employee's wages are calculated |
Gross pay | The total amount of money earned during the pay period before deductions |
Net pay | The amount of money left after all dedcutions have been taken from the gross pay earned in a pay period |
Deductions | The amount of money subtrated or deducted from the gross pay earned in a pay period |
Federal Withholding Taxes | The amount of money required by law for employers to withhold from earned wages to pay taxes |
State Withholding Taxes | The percentage deducted from an individual's paycheck to assist in funding government agencies within the state |
FICA | This tax includes 2 separate taxes: Fed OASDI/EE or Social Security and Fed MED/EE or Medicare |
Medical | The amount of money taken from an employee's paycheck for medical benefits |
Retirement Plan | The amount of money an employee contributes each pay period to a retirement plan |
Year-to-Date | Totals of all deductions that have been withheld from an individual's paycheck fro January 1 to the last day of the pay period indicated on the paycheck stub |