Workers' Compensation Overview
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Workers’ compensation codes are used to determine workers’ comp premiums for employees.
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Workers’ compensation codes are used to determine workers’ comp premiums for employees.
After the proper amount of taxes are withheld for the employee and employer, it needs to be paid to the proper agencies. Federal income and insurance tax payments must be paid electronically through the electronic federal tax payment system.
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Payroll taxes are calculated based on the total compensation of each employee. Federal and State withholding taxes are based on the Form W-4 information for each employee.
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An involuntary garnishment, sometimes called a wage attachment, is a legal process in which an amount is collected directly from an employee’s wages to satisfy an unpaid debt.
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The Pay Periods Profile defines the frequency for paying employees and drives the pay dates for payroll.
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Earnings identify different types of employee compensation for services provided. Earnings can also include specific parameters such as accounting rules, tax laws, and reporting requirements.
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A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.
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