BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Federal Taxes
|
|
|
Worker’s Compensation
|
|
|
State Taxes
|
|
|
FICA (social security)
|
Detailed explanation-1: -Mandatory deductions: Federal and state income tax, FICA taxes, and wage garnishments. Post-tax deductions: Garnishments, Roth IRA retirement plans and charitable donations. Voluntary deductions: Life insurance, job-related expenses and retirement plans.
Detailed explanation-2: -The amount that can be garnished is limited to no more than either: 25 percent of your employee’s disposable earnings (meaning, earnings after legally required deductions like payroll taxes, workers’ compensation, or unemployment compensation premiums); or.
Detailed explanation-3: -As per Section 7(3) of the Payment of Wages Act, 1936, the total amount of deductions cannot exceed: 75 percent of the wages when the deductions are wholly or partly for payments to cooperative societies. 50 percent of the wages in every other case.