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The process shown on the pV diagram in the figure is
Net Pay
The amount of an employee's salary that remains after deducting taxes and other statutory deductions.
Gross Pay
The total amount of an employee's earnings before any deductions or taxes are applied.
Federal Income Tax
The federal government's imposition of a financial charge on the yearly profits of individuals, corporations, trusts, and different legal organizations.
FICA Base Limit
The maximum amount of earnings subject to the Social Security portion of the Federal Insurance Contributions Act tax in a given year.
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