Gross Pay
True or False: Gross Pay shows the amount you take home.
What is False?
This is the amount of money you receive after all deductions.
What is Net Pay?
These are subtracted from Gross Pay to calculate Net Pay.
What are Deductions?
This is the pay rate you earn for hours worked beyond a standard workweek, usually 40 hours.
What is Overtime Pay?
These are non-salary perks provided by employers.
What are Benefits?
This is the total amount of money earned before deductions.
What is Gross Pay?
If your Gross Pay is $1,000 and deductions are $200, what is your Net Pay?
What is $800?
Name a common mandatory deduction taken from paychecks.
What is Income Tax?
True or False: Overtime pay is typically 1.5 times the regular pay rate.
What is True?
Name a common type of health-related benefit.
What is Health Insurance?
If you work 40 hours at $15 per hour, what is your gross pay?
What is $600?
True or False: Net Pay is always higher than Gross Pay.
What is False?
True or False: Health insurance premiums can be a type of deduction.
Answer: What is True?
If your regular pay rate is $20 per hour, what is your overtime pay rate?
What is $30 per hour?
True or False: Paid vacation is considered a benefit.
What is True?
Gross Pay includes this type of compensation, often given annually.
What is a Bonus?
This pay is often referred to as "take-home pay."
What is Net Pay?
This deduction is for a government-run retirement program in Canada?
What is CPP (Canadian Pension Plan)?
In Saskatchewan, overtime is calculated based on the number of hours worked in a week. How many hours must you work in a week before overtime kicks in?
What is 40 hours?
This benefit helps employees save for retirement and often includes employer matching.
What is a 401(k) Plan? or RRSP (Registered Retirement Savings Plan)
This document typically shows Gross Pay at the beginning of the pay period.
What is a Pay Stub?
Net Pay is sometimes affected by this type of voluntary deduction for retirement.
What is a 401(k) Contribution?
This deduction is for a Canadian government program that provides financial assistance during unemployment.
What is Employment Insurance (EI)?
True or False: Overtime pay in Saskatchewan is still subject to income taxes.
What is True? (Overtime pay is taxed like regular pay)
In Saskatchewan, what type of employee benefit helps cover the cost of routine check-ups, cleanings, and other dental care services?
What is Dental Insurance?