Which is an example of a withholding you might see on your pay stub?
A. Health Insurance
B. Retirement Savings
C. Both A and B
D. Neither A or B

Respuesta :

Correct Option: Both A and B

In our salary stub, we can have withholding for both health insurance and retirement savings. Health insurance withholding is matched by the employer. As per the federal rules, the Medicare withholding is 1.45% of the gross salary and the same is matched by the employer. The amount of IRA deduction is chosen by the employee. The employer withheld the amount and deposit on behalf od the employee.


Answering the question, health insurance, and retirement savings are examples of withholding you might see on your pay stub. Therefore the correct answer is C

A pay stub is a document that reveals what an employee earns when his or her salary is paid.

Further Explanation

It is a typical document that detailed the important information about the salary of an employee.

The information available on a pay stub include

  1. The period the salary of the employee was paid
  2. The deductions from the employee salary
  3. The revenue at the time the salary was paid.

It is advisable for employees to keep their pay stub simply because they might need in case matters of illegal deduction arise.

A pay stub can also detail some withholdings that deducted from employee's gross earnings.

Here are some of the examples of pay stub

  • Insurance policies
  • Social security tax
  • Federal income tax
  • Medicare tax

The list below are some of the common withholdings

  1. Retirement saving plans
  2. Medical insurance
  3. Tax withholdings
  4. A deduction that is also known to employees

The act that guides the payment of social security tax and Medicare tax is the Federal insurance contribution acts (FICA).

Withholdings are very common on a pay stub of an employee nowadays.

LEARN MORE:

  • Which is an example of a withholding you might see on your pay stub brainly.com/question/7286610
  • Whats the diffrence between health insurance and insurance brainly.com/question/12744362

KEYWORDS:

  • pay stub
  • Medicare tax
  • withholding
  • Health Insurance
  • Retirement Savings