Understanding Paychecks and Direct Deposits

Front

What are voluntary deductions?

Back

Amounts withheld for programs you choose to participate in.

Front

How is a salary typically paid?

Back

As a set amount divided by the number of pay periods in the year.

Front

What is a commission based on?

Back

A percentage of the amount of goods or services sold.

Front

What does a pay stub show?

Back

Details about your pay.

Front

What is the minimum wage?

Back

The least amount of money a person can make per hour.

Front

What is a paycheck?

Back

A document that an employer gives to an employee as payment for work done.

Front

What is direct deposit?

Back

An electronic transfer of a payment directly into a bank account.

Front

What are mandatory deductions?

Back

Amounts that are required by law to be withheld from your paycheck, such as taxes.

Front

What is gross pay?

Back

The total amount of money earned before any deductions.

Front

What is net pay?

Back

The amount of money an employee takes home after deductions.