Search results
Results from the Go Local Guru Content Network
The Federal Insurance Contributions Act ( FICA / ˈfaɪkə /) is a United States federal payroll (or employment) tax payable by both employees and employers to fund Social Security and Medicare [1] —federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.
In accounting, salaries are recorded in payroll accounts. A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.
Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payroll, recruitment, benefits administration (total rewards), time and attendance, employee performance management, and tracking competency and training records.
In the United States, payroll taxes are assessed by the federal government, many states, the District of Columbia, and numerous cities. These taxes are imposed on employers and employees and on various compensation bases. They are collected and paid to the taxing jurisdiction by the employers.