What do the abbreviations on my paycheck mean?
Table of Contents
What do the abbreviations on my paycheck mean?
Payroll Deduction Abbreviations Used: FL – Family Leave. FWT – Federal Withholding Tax. SWT – State Withholding Tax. INS/MED – Insurance or Medical deductions. 401k/Ret – Retirement contribution.
How do I read my pay stub?
How to read a pay stub
- Employee name and address. The full name and address of the person receiving payment.
- Company name and address. The employer’s name and address.
- Identifying information.
- Pay type.
- Pay date.
- Pay period.
- Hours worked.
- Pay rate.
What does PDO stand for on pay stub?
Paid Days Off (PDO)
What does SMS mean on my pay stub?
hours sick monthly subtract
SMS means you have taken 8 hours sick monthly subtract. This type of leave deduction occurs when there was an adjustment or correction made as a deduction from your sick leave balance which occurred after the payroll process.
What are deduction codes?
A deduction code is used to process payroll (after-tax) deductions or (before-tax) reductions, to make vendor payments, and to record proper accounting entries. For deduction codes 001-399, the Add (A), Change (C), and Delete (D) functions are protected.
What does er stand for in payroll?
ER taxes, also called employer taxes, are taxes that are paid by employers in accordance with their employees’ gross wages and compensation.
What is OT adj?
One-half of the increase in the regular rate is due to each overtime hour in that week. These overtime adjustments will be shown as “Reg. Rate OT Adj.” on your wage statement. If double time adjustments are made, they will be shown as “Reg.
What are earning codes?
Earning codes uniquely identify every type of earning that workers receive. They include parameters that are related to earnings, such as accounting rules, tax laws, reporting requirements, and gross-up capability. You also use earning codes to calculate various amounts that are used by the payroll system.
What does SDI stand for in payroll?
State Disability Insurance (SDI) and Personal Income Tax (PIT) are withheld from employees’ wages.
What does ER and EE mean?
The words that use the suffixes -er and -ee are usually two sides of the same coin — meaning that these words are related and describe two jobs that people do. The suffix -er is used to describe a person or thing that does or provides an action. The suffix -ee describes the person or thing that receives the action.
What is shift pay’d t?
Shift premium paid for work performed during a nonstandard work week by a non- exempt employee that begins between 3:00pm and 11:00pm. Irreg Swing DT. Doubletime shift premium paid for work performed during a nonstandard work week by a non-exempt employee that begins between 3:00pm and 11:00pm.
What is OT Prem?
The additional amount given to employees for the overtime hours. Usually this is the “half-time” in time and one-half. For example, if an employee’s hourly pay rate is $10 per hour and the employee works 41 hours in a week, the overtime premium is $5 per hour.
What is payroll group code?
Group codes are used to classify employees for payroll and reporting purposes. This allows you to specify a particular group code when processing payroll. For example, you might assign employees who are paid on a weekly basis one group code and employees who are paid twice each month another group code.
What does FICA w h mean?
FICA is an acronym for “Federal Insurance Contributions Act.” FICA tax is the money that is taken out of workers’ paychecks to pay older Americans their Social Security retirement and Medicare (Hospital Insurance) benefits. It is a mandatory payroll deduction.
What is the difference between SDI and Sui?
California’s state unemployment insurance, or SUI, is an employer-paid tax. State disability insurance, or SDI, is an employee-paid tax. The employee pays for disability insurance through withholding, meaning the employer deducts the payment from his or her wages.
