An Employee's Net Pay Consists of Gross Pay Less Mandatory

question 129

Essay

An employee's net pay consists of gross pay less mandatory and voluntary payroll deductions. Identify the mandatory payroll deductions and give two or three examples of common voluntary deductions. Are these deductions recognized as payroll expenses by the employer? What type of payroll expenses does the employer incur related to having a payroll?

---

Definitions:

Foreign Exchange Rate

The price of one currency in terms of another currency, used in international trade and investment.