Answer:
Net pay
Explanation:
Net pay is the amount of money one receives as remuneration after tax and other deductions. Net pay, therefore, is gross pay minus taxes and deductions.
Gross pay is the total amount earned as compensation. It includes salary, bonuses, allowances, and commissions. Taxes imposed on individuals include social security tax and medicare tax. Other deductions include loan repayments and payable benefits.
Employers usually deduct these payments from the payroll. The employees will receive net pay in their bank account at the end of a period.
