Question

Reggie is getting his first paycheck. He does not understand the difference between gross and net pay. In paragraph form explain what the differences are and how they are calculated.

Answer 1

Answer:

The essential difference between gross salary and net salary is that, in the first case, the sum of remuneration does not have the social security, public health and tax discounts that are made to each salary by the government. Thus, the gross salary is the sum of money that the employer pays for each worker that he has in activity. In turn, the net salary is the sum of money that the worker receives every month, once said discounts have been made.