Explain the term gross pay:
The term *gross pay* refers to the total income earned by an employee before any deductions are made - Leaving Cert Home Economics - Question 9 - 2016
Question 9
Explain the term gross pay:
The term *gross pay* refers to the total income earned by an employee before any deductions are made. This amount includes not only the ... show full transcript
Worked Solution & Example Answer:Explain the term gross pay:
The term *gross pay* refers to the total income earned by an employee before any deductions are made - Leaving Cert Home Economics - Question 9 - 2016
Step 1
Explain the term gross pay:
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Answer
The term gross pay refers to the total income earned by an employee before any deductions are made. This includes the basic salary, bonuses, overtime payments, and commissions. It is the full amount agreed upon in the employment contract.
Step 2
Name two compulsory deductions taken from gross pay.
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Answer
(i) PAYE (Pay As You Earn); (ii) PRSI (Pay Related Social Insurance).
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