The correct answer is C. This implies that <u>both a and b</u> are correct. Health insurance and retirement savings are examples of withholding you might see on your pay stub
It is very common today to have withholding on the employee pay stub. A pay stub by definition is a document that indicates or shows what employees earn whenever a salary is paid.
<h2>Further Explanation</h2>
The pay stub is a typical document that reveals all the important information about an employee's salary. Some of the information that a pay stub contains include
- The time the employee salary was paid
- It shows if there is any reduction in the salary
- It also provides details about revenue at the time the salary was paid.
Employees need to keep their pay stub for reference, particularly to address any matter including illegal salary reduction. A pay stub can also contain some withholdings deducted from your gross salary.
Some of the common withholdings are:
- Saving plan
- Medical insurance
- Retirement saving plans
- Tax withholdings
- Deductions that employees agreed to on their salaries
However, some of the examples of pay stub withholding include
- Insurance policies
- Social security tax
- Medicare tax
- Federal income tax
The federal insurance contribution acts (FICA) is the acts that manage the payment of social security tax and Medicare tax.
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KEYWORDS:
- withholding
- Health Insurance
- Retirement Savings
- pay stub
- Medicare tax
