Payroll
Payroll
Payroll (/ˈpeɪroʊl/) is a term that refers to the total amount of wages and salaries paid by a company to its employees. The term is also used to refer to the process of calculating and distributing these payments.
Etymology
The term "payroll" originates from the two English words "pay" and "roll". "Pay" is derived from the Latin word "pacare", which means "to pacify", while "roll" comes from the Latin word "rotulus", meaning "a small wheel or roll". Together, they refer to the list of employees that a company has to 'pacify' or pay.
Related Terms
- Employee: An individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties.
- Salary: A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.
- Wage: A fixed regular payment earned for work or services, typically paid on a daily or weekly basis.
- Employer: A person or organization that employs people.
- Employment Contract: A kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain.
- Tax Deduction: A reduction in tax obligation from a taxpayer's gross income.
- Overtime: The amount of time someone works beyond normal working hours.
See Also
External links
- Medical encyclopedia article on Payroll
- Wikipedia's article - Payroll
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