Payroll Vocabulary Explained

We break down payroll’s complex terms from A to Z for easy understanding.

Work-life balance

Work-life balance refers to how employees manage their job responsibilities alongside their personal lives. Businesses that support this balance often provide benefits like flexible hours, the option to work remotely,

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Wages

Wages refer to the total earnings an individual receives for performing work or services. This includes payment made in various forms such as hourly rates, salaries, bonuses, commissions, or even

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Wage assignment

A wage assignment refers to the process, either initiated by the employee or required by law, where a portion of their wages is directed toward settling debts such as overdue

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Withholding Tax

Withholding tax refers to the portion of an employee’s earnings that an employer is legally obligated to retain and submit to tax authorities. This amount serves as a prepayment toward

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