johnec4
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gross pay is exactly what you earned.
net pay is your take home pay (the amount of gross pay left after taxes and deductions) |
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stand@btinternet.com
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It means "don,t compare these two or it will depress the sh*it out of you"! |
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bgee2001ca
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Gross pay, is the amount of money you make in a pay period.
Net pay is the amount of money you take home after the deductions for Income tax,unemployment insurance Etc are taken out of your pay |
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achrimsdale
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gross is total earnings
net is after deductions like tax NHI etc
net is commonly called "take home" pay
. |
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Marissa Di
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The total gross pay is the nice amount you see you have earned for the paycheck. It is dated from the previous paycheck to this paycheck. It is normally in a column which lists the gross amount for each and every paycheck you receive.
The net pay is the amount you are allowed to receive once you deposit the paycheck.
This is less the deductions from the gross pay. There are pre=tax deductions, and post=tax deductions. Savings plans, such as 401K have pretax deductions, where the amount is deducted from the gross pay before taxes are calculated, therefore allowing the pretax deductions to accumulate savings faster. There are the federal and state taxes. There are healthcare deductions, and life=insurance deductions. Almost all these deductions are optional, except the federal taxes and the state taxes, the Medicare taxes, and some taxes as required by the state. Also, the deductions can fluctuate according to the amount of dependents claimed on the persons W=2 form at the beginning of employment.There may be federal insurance taxes. There are voluntary contributions which can be deducted from the gross pay. Once all these deductions have been taken from the gross pay, the remaining amount is the net pay. |
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SG Elite
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Let's start with gross pay first. Gross pay means all-inclusive (e.g. salary, benefits, meal allowance, etc..). After deducting taxes the balance amount would be your Nett pay. |
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mesmerized
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Net : what you are left with after all the deductions
Gross: What you earnt in full(before the deductions)
M : )
( sorry about the gap between the two of them) |
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shortpeg2001
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gross pay is you wage before deductions of tax etc and net pay is you wage after deductions ie what you actually get. |
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old know all
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Net pay is what you get after deductions. (Tax, National Insurance & Pension contributions). Gross pay is before deductions. Total gross pay is the amount since 6th April. Tax is calculated by reference to your total gross pay. |
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nicola T
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net pay is what you get paid ater tax and ni etc is taken out
gross is what your earnings are for the year |
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Talen
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Gross pay is what you have actually earned. Nett pay is after the government have taken it all away again! |
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Black
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Gross pay is pay before any deductions is taken out and Net pay is pay after deductions are taken out.
Gross before any tax or anything else is taken out.
Net after tax ansd after everything is taken out.
Net pay is what you take home with you. |
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diane p
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Gross pay is your earnings before you have paid tax, NI, pension, union fees and other deuctions.
What's left is Net |
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madgooner
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Net Pay is what gets to your bank account, and gross is what is paid before tax, national insurance and any other deductions. Usually the difference is about a third! (unless your earning £35K pa or more. |
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Klick
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net pay = pay after tax
Gross pay = pay before tax
# |
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Indy500
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Nett pay is what you get to take home after the government bandits have taken their share. You can then spend the remainder on other stuff they charge rob dogging tax on such as essential fuel for our cars etc. |
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Chris B
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It means you earnt 1000 and pai 999 in tax i had 4 bottlese of wine so not to sure soz. |
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michelle s
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gros meaning "big" is all the money you earn, net is after taxes that you take home"just like carrying it in a net", easy to remember |
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MommyToBe!
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Net pay is after taxes and gross is before taxes.
Think of it this way.....When you go fishing, whatever you catch in the net, is yours......
I hope this helps! |
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wonkyfella
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Gross is before tax and national insurance. Net is after all deductions. |
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lloyd1uk
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net pay is what you take home gross pay is what you earn befor tax |
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Jo
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it means the money you have earned before tax |
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Brandon M
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Net pay is your pay before taxes and stuff withheld, gross pay is after the taxes. |
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