Lesson 19 Terms to Know CWT

The money subtracted from a paycheck determines total net earnings

• Eligible

• Deductions

• Gross Pay

• Net Pay

Having the right to do something or obtain a service

• Deductions

• Gross Pay

• Net Pay

• Eligible

A contract that usually states your responsibilities and lays out the employment agreement.

• Employment Contract

• I-9 Form

• W4 Form

• Net Pay

A low that requires a deduction from the paycheck of employees, withholding amounts that go toward the funding of the Social Security program and Medicare.

• W4 Form

• I-9 Form

• Employment Contract

• Federal Insurance Contributions Act (FICA)

The total income earned before any tax deduction or adjustments.

• Gross Pay

• Net Pay

• FICA

• New-Hire Paperwork

Used for verifying the identity of individuals hired for employment in the United States.

• I-9 Form

• W4

• FICA

• Paycheck

The total income earned after any tax deductions or adjustments.

• Paycheck

• Pay Stub

• Net Pay

• Gross Pay

Contains the documents a new employee with a company needs to be a legal and productive member of the business.

• W4

• I-9

• New-Hire Paperwork

• Deductions

Money earned at an increased rate for working more than 40 hours in one week.

• Paycheck

• Pay Stub

• Net Pay

• Overtime Pay

A check for wages made out to an employee

• Paycheck

• Pay stub

• Net Pay

• Gross pay