Payroll withholding refers to the process of deducting a portion of an employee's wages or salary to cover taxes, such as income tax, social security, or Medicare. It is done directly from the employee's paycheck before they receive it, ensuring that their taxes are paid regularly throughout the year.
Full definition
Synonyms for individual words can be found below.
«payroll»
«withholding»
Sentences with «payroll withholding»
- They contribute to the pension through payroll withholding instead of contributing in the same manner to Social Security. (investopedia.com)
- Prepared weekly payroll withholding tax reporting, monthly reconciliations, unemployment claims, and computed monthly bonuses. (jobhero.com)
- As part of Philippine payroll's commitment in providing you with resources on payroll computation we will present to you how to compute payroll withholding tax. (philippinepayroll.mseedsystems.com)
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