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gross pay

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docs/source/4_calculating-gross-pay.rst
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@@ -107,37 +107,8 @@ net pay.
Any reimbursements made to an employee for personal living expenses are considered taxable to the employee, included in income and subject to statutory withholdings. Any reimbursements made to an employee for personal living expenses are considered taxable to the employee, included in income and subject to statutory withholdings.
Content Review Types of Regular Earnings
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* Remuneration is compensation or pay for services performed.
* Employment income can be categorized into earnings, allowances, benefits and taxable expense reimbursements.
* Earnings are dollar amounts the employer pays an employee for the work they perform.
* Earnings are pensionable, insurable and taxable, and therefore subject to all statutory deductions.
* Allowances are additional dollar amounts paid to employees for the use, or anticipated use, of their personal property for business purposes.
* Benefits are dollar values attributed to something the employer has either provided to an employee or paid for on an employee's behalf.
* Expense reimbursements are dollar amounts paid to employees to cover expenses that they incurred while performing their job; they are not considered in the calculation of an employee’s pay.
* A regular payment has an established frequency, such as weekly-paid salary or wages.
* A non-regular payment has no established frequency, for example, a bonus or a retroactive adjustment.
* Employment standards legislation in all jurisdictions, except for federal (Canada Labour Code, Part III) and Ontario, requires that employees receive their pay according to a specified frequency.
* As long as an employer meets the minimum standard requirement, they can select the pay period frequency that best suits their organization.
* An organization can establish different pay frequencies for different groups of employees.
* The most common pay period frequencies are weekly, bi-weekly, semi-monthly and monthly.
Review Questions
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#. What are the four categories of employment income?
#. List five methods an employer can use to pay earnings.
#. What are allowances? Provide an example of an allowance.
#. What are benefits? Provide an example of a benefit.
#. What are expense reimbursements?
#. List two of the most common types of pay period frequencies.
Non-Regular Earnings Non-Regular Earnings
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