4 ms·
Same in the UK - the amount quoted is before any tax is deducted. It is usual for the employer to deduct the income taxes themselves, though... businesses in th
by to3m 10y ago
Same in the UK - the amount quoted is before any tax is deducted. It is usual for the employer to deduct the income taxes themselves, though... businesses in the UK bear some tax collection responsibilities, of which this is one.
On top of the quoted figure, there is an equivalent of employer's FICA contributions. The rate is around 12.5%. Anyway, this is treated separately and you don't generally hear about it; employers factor it into their calculations before deciding on a salary range.
Exception: it's somewhat common for public sector employees to have the employer's contribution quoted on their payslips, perhaps to make them feel like they're paying into the system.