Employee paycheck assessment

A Fixed, or guaranteed, amount of money an employee receives in exchange for work. Either an annual salary divided into equal pay periods or an hourly wage. Paid each pay period. Is called what type of pay?

An amount of money an employee, receives after meeting certain criteria (individual or team performance, sales incentives, safety goals, etc.). Either a fixed amount or a percentage . Not usually paid each pay period

Monetary or nonmonetary programs that provide value to the employee. Sometimes known as fringe benefits. Vary by company.

Set length of time (typically a week, two weeks, or a month) in which an employee’s work time is recorded and paid .

Total amount of money (income) an employee earns

Amount of money withheld from a paycheck to cover taxes (federal, state, and/or local), Social Security, Medicare, insurance, retirement plans, union dues, etc.

Amount of money (income) an employee earns after paycheck deductions; an employee’s “take-home” pay; net pay = gross pay – paycheck deductions

Read the description below and identify whether it best describes base pay, variable pay, or benefits.

Examples include sales commissions, performance bonuses, and safety awards

Read the description below and identify whether it best describes base pay, variable pay, or benefits.

It is not generally viewed as a form of compensation.

Read the description below and identify whether it best describes base pay, variable pay, or benefits.

It is compensation found in each and every paycheck