Unit 16: Payroll

Ad hoc

for a particular purpose or need

Check

a printed form, used instead of money to make payments from a bank account

Commission

a system of payment based on a percentage of the value of sales, business generated

Compensation

the combination of payments and other benefits which employees receive

Curb

reduce or limit

Cutoff

a fixed point, date or level at which you stop including things

Fringe benefits

an extra thing which is given to you by an employer

Garnishment

deduction of income or property from someone who owes a debt

Overtime

time worked in addition to your usual job hours

Reimbursement

the act of paying back money which is owed

Requisite

needed for a particular purpose or result

return on investment

The yearly, and monthly profit on an activity when compared to the invested capital

Rigorous

Detailed and careful

Salary

A fixed amount of money agreed every year as pay for an employee

State

to say or write something officially

Statutory

decided, controlled or required by law

Tax code

A set of numbers and letters used to show the amount of income tax that an individual should pay

Tied to

closely connected with, or reliant on

Wages

an amount of money that is paid every week to an employee for their work for each hour worked

Worked out

calculated, found the answer to