Salary, Salary deductions Flashcards
1
Q
Philhealth deduction
A
2% of employer and employee’ income; changes every year
2
Q
What does S.S.S. mean?
A
Social Security System
3
Q
Pag - IBIG deduction
A
2% of employer and employee’ monthly income
4
Q
A fixed gross amount of pay equally distributed over periodic payments
A
Salary
5
Q
A gross amount of pay based on the number of hours worked.
A
Wage
6
Q
Amount an employee gets due to work before payroll deductions are withheld
A
Gross Pay
7
Q
Payroll deductions from specific COMPANY POLICIES:
A
- tardiness,
- leave of absences,
- insurance payments,
- outstanding loans.
8
Q
Payroll deductions mandated by LAW:
A
- SSS contribution,
- Philhealth Contribution,
- Pag-IBIG contribution,
- Taxes.
9
Q
Actual amount an employee gets in the end pf payroll deductions
A
Net Pay
10
Q
What does “PAG - IBIG” mean
A
Home Developement mutual fund
11
Q
Types of Piecework pay
A
- Straight
- Differential
12
Q
Types of Commission
A
- Graduated
- Residual
- Override on Sales
- Salary plus
