PAYROLL CHECK Meaning and
Definition
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A payroll check is a form of payment issued by an employer to an employee for services provided within a specified time period. It is a crucial component of an employee's compensation package, allowing them to receive the financial compensation for their work. A payroll check contains the employee's pre-determined wage or salary, and may also include additional compensation such as bonuses, commissions, or incentives.
The payroll check provides detailed information on the employee's pay, including the gross and net amounts. The gross pay represents the total amount earned by the employee before any deductions are made, such as taxes, insurance premiums, or retirement contributions. The net pay, on the other hand, is the actual amount the employee receives after subtracting these deductions.
Usually, a payroll check is issued on a regular basis, commonly weekly, bi-weekly, or monthly, depending on the employer's pay schedule. It typically includes the employee's name, the company's name and address, the check number, and the payment amount both in numerical and written formats. Additionally, the check may provide a breakdown of the various deductions made, offering transparency in the payment process.
Ultimately, a payroll check acts as a tangible proof of income and plays a vital role in an employee's financial stability. It serves as a record of payment, facilitating the employees' ability to monitor their earnings, plan their budgets, and fulfill their financial commitments accurately.
Common Misspellings for PAYROLL CHECK
- oayroll check
- layroll check
- -ayroll check
- 0ayroll check
- pzyroll check
- psyroll check
- pwyroll check
- pqyroll check
- patroll check
- pagroll check
- pahroll check
- pauroll check
- pa7roll check
- pa6roll check
- paydoll check
Etymology of PAYROLL CHECK
The etymology of the word "payroll" comes from the combination of the words "pay" and "roll". "Pay" originates from the Old French word "paier" meaning "to pay", which itself derives from the Latin word "pacare" meaning "to appease" or "to make a payment". "Roll" refers to a list or register.
The term "payroll" was first used in the 18th century to describe the list of employees who were to be paid by an employer. Over time, it came to refer to the total amount of money paid by a company to its employees.
The term "check" in "payroll check" relates to a written order to a bank to pay a specific amount from a person's account to the named payee. It originated from the Middle English word "chekke" which meant "to track" or "to control".
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