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GROSS EARNINGS
THE TOTAL AMOUNT OF INCOME OVER A SPECIFIC TIME
NET EARNINGS - THE REMAINING AMOUNT, IF ANY, AFTER ALL DEDUCTIONS ARE APPLIED
SOME PEOPLE CALL IT “TAKE-HOME PAY”
Compensation
is a way to provide monetary value to employees
Salary
a fixed amount paid to an employee for a specific pay period
wages - an amount paid per hour of work rendered
formula for salary: S=AS divided by P
Social Security System (SSS)
Social Security System - covers the private sector employees
PhilHealth - covers a proportion of the medical expenses of an employee
what is GSIS?
Government Service Insurance system
GSIS - covers the government workers
Income Tax - amount of money that the government requires people to pay according to their income

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Cards (12)

8.1 Introduction to Contemporary Writers from the United States and Spain

AP United States History

AP United States Government and Politics

2.2 Departure Zones in Africa and the Slave Trade to the United States

Unit 1: Period 1: 1491–1607

7.2 American Imperialism

Unit 2: Interactions Among Branches of Government

5.11 Changing Media

8.3 The Vietnam War

1.3 The Columbian Exchange

2.6 Colonial Society and Culture

5.6 Groups Influencing Policy Outcomes

2.1 The Chesapeake and Southern Colonies

9.2 The Post-Cold War Era

1.1 Ideals of Democracy

1.3 Government Power and Individual Rights

3.11 Government Responses to Social Movements

Unit 4: Period 4: 1800–1848

Unit 8: Period 8: 1945–1980

Unit 6: Period 6: 1865–1898

Unit 3: Period 3: 1754–1800