Home > Terms > English, UK (UE) > Net pay

Net pay

That part of an employee’s wages that remains after all deductions have been subtracted (e.g., taxes, health insurance premiums, union dues, etc.).

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Accounting
  • Category: Payroll
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Related terms

net pay
Accounting; Payroll

That part of an employee’s wages that remains after all deductions have been subtracted (e.g., taxes, health insurance premiums, union dues, etc.).

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The remaining amount of an employee's gross pay after deductions, such as taxes paid.

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The lower level to the permeability, porosity or saturation in what is considered net pay.

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An amount of money paid on a regular basis to people in regular employment. Payment may be of wages or salary, in cash or by cheque, or by direct bank transfer.

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Accounting; Payroll

Social Security Administration’s system of recording wages reported annually by employers on Form W-2.

statutory nonemployees
Accounting; Payroll

Special groups of workers who may qualify as common law employees but are treated under the law as independent contractors (e.g., qualified real estate agents and direct sellers) ...

taxpayer identification number (TIN)
Accounting; Payroll

social security number or employer identification number, which serves as the taxpayer’s account number with the IRS.

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State agency directives that set wage and hour standards, usually for specific industries.

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Subtracting amounts from an employee’s wages for taxes, garnishments or levies, and other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid ...

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