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A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1] Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously ...
Office administration (shortened as Office Ad and abbreviated as OA) is a set of day-to-day activities that are related to the maintenance of an office building, financial planning, record keeping and billing, personal development, physical distribution and logistics, within an organization. An employee that undertakes these activities is ...
A human resources management system (HRMS) or Human Resources Information System (HRIS) or Human Capital Management (HCM) is a form of Human Resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to ...
It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit . In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1 ...
The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%). Employers are allowed to deduct a small percentage of an employee's pay (around 4%). [7] Another tax, social insurance, is withheld by the employer.
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