Wages and salaries are the remunerations paid or payable to employees for work performed on behalf of an employer or services provided.
Employers are required by law to deduct from wages, commonly termed "withhold", income taxes, social contributions and other purposes, which are then paid directly to tax authorities, social security authority, etc., on behalf of the employee.
such as payment in kind in the form of goods or services provided to the employee, such as food and board. For tax purposes, wages and salaries normally do not include . These are usually referred to as fringe benefits.
NEW SALARY BOOK WITH AUTOMATIC CALCULATION
In the national accounts, in accordance with the System of National Accounts, wages and salaries are the sums of remuneration paid to employees, including the values of any social contributions, income taxes, etc., payable to employees.
However, labor-related expenses of a business, such as payroll taxes, pension fund contributions, social insurance schemes, workers compensation insurance, etc., are not counted as wages and salaries for national accounts purposes.
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