Ways of Pays
Paying based on percentage of net sale
What is commission basis?
What is FUTA?
Is hired and works under employee
What is employee?
Form containing employee info + earnings info + tax info
What is compensation records?
Rate paid for employees working over 40 hrs per week
What is time and a half?
Paying based on stated rate per hour
What is hourly rate basis?
What is social security tax?
Lacks maximum hrs and overtime pay provisions of The Wage and Hour Law
What is exempt employee?
record that contains info to compute earnings + tax reports
What is individual earnings record?
Insurance protecting employees' loss from job-related injuries, illness, or death.
What is worker's compensation insurance?
Paying based on number of units produced
What is piece-rate basis?
Tax on employees and employers to provide medical care to them and their families at 65
What is medicare tax?
Paid by a company to carry out task without being under control or supervision
What is independent contractor?
record of payroll information of all employees for the period
What is payroll register?
Federal act providing benefits to employees + their families
What is social security act?
Paying based on agreed amount per week/month
What is salary basis?
Tax on employers, benefiting unemployed workers (abbreviation)
What is SUTA?
form which claims exemption allowances
What is employee's withholding allowance certificate, form W-4?
Method determining amount taken by federal income tax which uses a table
What is wage-bracket table method?