The list of 429 Payroll acronyms and abbreviations (April 2022): 50 Categories. Zenefits can't make changes to benefits that are assigned a provider-administered code. Payroll deductions are amounts withheld from an employee's payroll check, and these amounts are withheld by their employer. Not properly understanding your paycheck can land you in costly troubles. After-tax deductions include medical expenses, interests, and other losses to casualties. Your pay stub abbreviations outline what everything associated with your paycheck means. DEDUCTION CODES: TAXES: Federal Tax Federal Income Tax Federal Tax Addl NJ Federal Income Tax Additional FICA Social Security Tax - 6.2% - (previously 4.2%) Family Leave Ins State Family Leave Insurance - (previously under NJ SUI/SDI Tax) Medicare. Dictionary Entries Near payroll deduction. PAYLOC: Pay Location: This is your work assignment location. - ?? Bankrpty - Bankruptcy CHD SU - Child support Garn - Garnishment flat rate Garn % - Garnishment percentage StdnLoan - Student loan TX Levy - Tax levy IRS Levy - Internal Revenue Service levy Dissecting Your Pay Stub The withholding amount is the amount of taxes that you are . Employers withhold (or deduct) some of their employees' pay in order to cover . Generally, employers may deduct from an employee's paycheck one-half the Medical Aid Fund portion of the worker's compensation premium. Medicare Tax 1.45%: Zenefits can't make changes to benefits that are assigned a provider-administered code. 1. This includes taxes and benefits deductions. Some payroll deductions are voluntary (401(k) contributions). FICA-Social Security (FIO) - this tax is deducted from your paycheck at a percentage of 6.2 percent. Paycheck Schedule; Pay Stub and Payroll Codes; Payroll FAQs; Staff Directory; Student Payroll; Contact Information. Abbreviations Used: FICA - Federal Insurance Contributions Act. Deduction Code: 350 ORG Code: 266 Health Net Salud y Más . Helpful Definitions and Acronyms for the EITC. Some companies have their own abbreviations or their own ways of using established shorthand. It is listed as a deduction so that your Leave and . S125 Pre-Tax Payroll Deduction SIT State Income Tax Withholding STRS NTX STRS Non-Taxable STRS State Teachers' Retirement System (certificated personnel) SUI State Unemployment Insurance (employer cost) . Others are involuntary (federal income taxes). These are the list of common abbreviations and acronyms of the Earnings and Deductions codes on the Pay stub. For more information. payroll deduction codes 2010 osfq mn ce osf winnebago mn empl med health coverage waiver imp life imputed life st life 1b c9 state optional life 1x- bw st life 1m c9 state optional life 1x - mo st life 2b c9 state optional life 2x- bw st life 2m c9 state optional life 2x - mo st life 3b c9 state optional life 3x- bw Other times, they may have the name of the insurer or an abbreviation of it. FL - Family Leave. If a 5 is selected, a special calculation is completed. ORG Code: 471 CAHP. paycheck deduction codes and descriptions ers employers retirement system flex med american family life assurance company - flex medical flex depend american family life assurance company - flex dependent care fica social security fit - ?? Paychex, Inc. . Provider administered deduction codes in Paychex Updated August 08, 2018 -- For Administrators and Employees A provider-administered deduction code is one that's defined and controlled by Paychex. Codes for insurance premiums could be indicated by the type of insurance -- like PPO, LIFE, LTC or HLTH. There are a lot of employers who subsidise health insurance, but it is important to remember that this is not a deduction from your paycheck. The first part of FICA, which accounts for 12.4% of FICA taxes, costs the employer and employee 6.2% each, or the full 12 . This is the amount of your paycheck that you are taxed on by the federal government. PAY PERIOD: The pay period for this earnings statement (first two digits) and the year of payment (second two digits). FICA - SS - This stands for « Federal Insurance Contributions Act - Social Security. 401k/Ret - Retirement contribution. You can map your payroll system's deduction codes to each of your employee-paid products in Maxwell. » St Tax/SWT/SIT/SITW - These abbreviations are used for the « state tax withholding. The employer must record the advance or draw in the employee's payroll records. Other deductions can carry just about any code. 1A where A = Earn Set. Microsoft Word - Payroll Abbreviations.docx Author: jfrederiksen Created Date: 10/29/2015 3:15:18 PM . Please Note: Items that require action are indicated by a check box ( ). Otherwise, for any other payroll deduction related questions, contact the HR Payroll Section: payroll@ucf.edu. I just received my first paycheck at a new job I started two weeks ago, I have a $65,000/year salary - the base earnings for 40 hours is $1,250. Response #4: Your company should not take self-help remedies of paycheck deduction to recover loss of unreturned items. See Minnesota Statutes 177.24. from your paycheck(s) throughout the year. Short Description. Common Paystub Deduction Codes UNION CODES SEIU 503 Deductions for employees represented by SEIU for Dues or Issues deductions SEIU TEMP Deductions for temporary employees represented by SEIU for Fair Share, Dues or Issues deductions OPEU/ASSOC Deduction for SEIU Associate members 4 digit number LOCAL (i.e. SWT - State Withholding Tax. Some deductions are taken before taxes such as insurance and 401 (k). . Abbreviation for Paychex, Inc.: 1 Category 1 PAYX Paychex, Inc. Technology Suggest to this list Share Paychex, Inc. Adopted Child - An adopted child is always treated as your own child. FINANCE NO: The USPS finance number for your work office. Paycheck Abbreviation Description Information. Read on to understand paycheck stub abbreviations here. The File Availability Schedule has been updated to include 2021 and 2022. Deduction Code: 350 ORG Code: 185 Code: Description: Category: Check code: Empe/Empr: Empe Amt/Pct: Empr Amt/Pct: 1000: FICA: Social security-most employees do not have this deduction: FICA: BOTH PAY Private Medical-Care, Inc. The other part of the paycheck concerns the various payroll deductions that may have taken place. Tools. The above image is a typical example of a State of Maryland Employee's paystub. Regular wages may be abbreviated as REG, overtime as OT, salary as SAL, year-to-date as YTD, severance pay as SEV, bonus as BNS, vacation as VAC, holiday as HOL, personal time as PERS, retroactive pay as RETRO, and . Federal Income Taxes 4. Your pretax deductions (medical and dental insurance, retirement and flexible spending accounts) should be subtracted from your regular pay to equal this amount. Deduction Code Deduction Description; Fed W/H: Federal Withholding Tax: FICA OA: FICA Tax - Old Age (Social Security) FICA MD: FICA Tax - Medicare: FIMA: FICA Tax - Additional Medicare: EIC: Earned Income Credit: Ala WH: Alabama State Withholding Tax: Gadsden: Gadsden City Tax: AL UnEmp: AL Unemployment Insurance: Sal Defr: Salary Deferral for . Now that you are familiar with more of the most common pay stub acronyms and abbreviations . Withholding may also take place in order to siphon a portion of an employee's paycheck to alternative causes (such as union dues), but these deductions must be approved by the employee in question. Employers who have elected to defer the employee Social Security tax are responsible for collecting and paying back deferred taxes. under Search criteria enter the paycheque issue date or the paycheck number; Note: . How do I get my final paycheck? Retroactive paycheck deductions of workers' compensation premiums. Bankrpty: The pay stub abbreviation for bankruptcy. Pre-Tax Deductions Pay Stub Abbreviations Pre-tax deductions are deductions that reduce your taxable income. If an employer regularly fails to deduct the employee's portion of the premium, the employer may not retroactively deduct this amount . Sec 125 - If enrolled in the Premium Option Plan or Unreimbursed Medical FSA, this amount is representative of your Health and/or Dental deductions along with any FSA deductions withheld from your paycheck(s). Payroll deductions are wages withheld from an employee's total earnings for the purpose of paying taxes, garnishments and benefits, like health insurance. These deductions cannot bring your wages below the state minimum wage and must be paid back to you when you leave employment. I expected - for a two week pay period - to get around $1,800, but the deductions included $791.25 for CT SIT, $384.62 for FIT, 36.25 for MCEE and 105 for TSSE - the last two deductions I have no clue . This location will be updated frequently and will contain newsworthy information for the State Controller's Office payroll deduction clients. Where you work. When it comes to wages in Canada, most 20-49 Employees Paychex solutions for businesses with 20-49 employees can help owners and managers save time, reduce errors & stay informed of new and changing regulations. Tax. Regardless of when and how you get your paycheck, your pay stub is essential as it keeps you updated on your earnings. Here are the most common paycheck stub abbreviations that deal with tax deductions: FICA — Med — This refers to the Federal Insurance Contributions Act — Medicare that you contribute 1.45% of your pay to. This does not have an effect on your income or on your taxes. Not all deductions are problematic. Often, pre-tax deductions result in less taxes being calculated. $10K Life/ADD Insurance (CSUEU) *F DNT PMI. Paycheck Deduction Codes. We can calculate from the number of hours we worked or our salaried amount how much we'll get paid. Mid-Month Pay: If you elected to be paid twice a month, then your mid-month pay is basically an advance on your estimated whole month pay. The employer may deduct the advance or draw from the employee's final paycheck. These would be deducted from the gross wages before deducting taxes. This may include their 401K contributions, insurance premiums, flexible savings accounts (FSAs), profit sharing, garnishments, and other items. FICA Taxes. Deductions include a range of benefits that the employee either pays for completely or pays a portion of. Swarthmore College 500 College Avenue Swarthmore, PA 19081 Phone: 610-328-8677 Fax: 610-690-2040 Email: payroll@swarthmore.edu Office Hours: 8:30am - noon & 1-4:30pm (M-F) compensation deduction with ADP. Social Security & Medicare taxes - also known as FICA taxes. YTD - Year-To-Date. Select the employee in which you want to view payroll deductions for from the employee drop-down menu at the top of the screen. Other Deductions. AGI or Adjusted Gross Income - AGI includes all your gross income minus certain deductions. In taking a peek at your paycheck, you want to make sure what it is because particularly in the topic of payroll deductions, every abbreviation relates to another. INS/MED - Insurance or Medical deductions. FICA — Med — This refers to the Federal Insurance Contributions Act — Medicare that you . Business. » It is the mandatory social security that you'll pay. This amount has already been excluded from your Box 1 wages. Paycheck Protection Program Guide. COVID-19 Frequently Asked Questions for Deduction . 457. Download Client Quarter-End Reference Guide. (example: "fit-m-0" stands for married / claiming 0 exemptions) You would abbreviate payroll taxes and other mandatory deductions as normal. A sample paycheck stub shows examples of what would be on an employee's pay stub. (23,900 *.0425%). 1. Short Description Long Description Code. The amount of money you After-Tax Deduction A deduction from an employee's pay that does not reduce the employee's taxable wages. pay-roller. Abbreviations such as FT, FWT and Fed Tax are all common when providing the deduction amounts for federal income tax withheld from a paycheck. Local tax withholdings such as city or county taxes, state disability or unemployment insurance. Company Level Code defining the Workforce Employee Tax (Percentage Based) Set up the WF code as follows: The WF wage base is $23,900. Abbreviation How to abbreviate Paychex, Inc.? Employers withhold (or deduct) some of their employees' pay in order to cover . Fed/FWT/FIT/FITW - These are abbreviations used for « federal tax withholding. To view your own paystubs, visit CPB's Payroll Online Service Center (POSC) and follow the instruction to sign up or log in. 50 Categories. One Company Level Code is required to automate the Employee side of the Workforce tax as detailed above. 5. Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits. While these are useful basic terms to know, the ins and outs of payroll processing are far more complex and definitely require a more thorough . Find payroll and retirement calculators, plus tax and compliance resources. Certain companies impose their own abbreviations. FICA-SS Social Security 100. Some help you build your financial future and save money on taxes. Deduction Code: 350. Below given are some commonly used abbreviations in paycheck stubs regarding tax deductions. Understanding paycheck deductions What you earn (based on your wages or salary) is called your gross income. This list includes money you're contributing to your company's retirement savings account . Certain companies impose their own abbreviations. PAYCHECK ABBREVIATIONS Fiscal year (July 1 - June 30) EARNINGSDESCRIPTION TAX FEDERAL STATE FICA-OASDI FICA-HI ***RETIREMENT GROSS Reitrement earnings Taxable Yes Yes Yes Yes RETIREES PAY Non-retirement earnings Taxable Yes Yes Yes Yes STUDENTS PAY Non-retirement earnings Taxable Yes Yes Yes Yes Calendar year (Jan 1 - Dec 31) EARNINGS DESCRIPTION These are usually for tax purposes, but in addition to tax deductions, there may also be deductions for insurance, retirement plans, leave time, childcare, or other employee benefits. An employee may obtain an advance or draw on wages. payroll taxes and income tax. California Labor Code Section 224 allows deductions when authorized by the employee in writing, but that authorization is limited to (1) insurance premiums . Contact us at dli.laborstandards@state.mn.us, 651-284-5075 or 800-342-5354. Advance or draw on wages. 3. Then we see a list of abbreviations off to the side for deductions made to our gross pay. Deduction Code: 350 ORG Code: 184 Health Net SmartCare . FWT - Federal Withholding Tax. SINCE 1828. . Swarthmore College 500 College Avenue Swarthmore, PA 19081 Phone: 610-328-8677 Fax: 610-690-2040 Email: payroll@swarthmore.edu Office Hours: 8:30am - noon & 1-4:30pm (M-F) 3336 LOCAL) Deductions for employees represented by AFSCME for Fair Share or Dues . . Your pay stub contains pay codes and abbreviations in both Compensation Web Applications and Phoenix. Technology. There are also other abbreviations which can mean the same thing, and these abbreviations include 'ER HCV' and also 'ER Health Cov'. To ensure all changes get synced properly, create a new deduction code so that Zenefits can manage the . An after-tax deduction is a payment automatically subtracted to an employee's pay stub after the government withholds taxes. Employment. Agency Name and Code This type of deduction may reduce the employee's wage below the state minimum wage. Federal Insurance Contributions Act (FICA)-Medicare (FIM) - this is a deduction for Medicare. June 03, 2020 11:14. $10K LF/AD. After tax deductions would be things like donations made through a company fundraiser or garnishments where the employee is . Some mandatory payroll tax deductions that employers are required by law to withhold from an employee's paycheck include: Federal income tax withholding. Year-to-date fields on pay stubs are the accumulative totals for amounts earned and deducted from your paycheck as the year progresses. Payroll deductions are withheld from an employee's paycheck. The WF rate is .0425%. 50-1,000+ Employees Abbreviations Used: YTD - Year-To-Date; Deductions. Federal Taxable Wages and Withholding. Remove a Payroll Deduction. It is taken out only after all applicable taxes and other deductions . 457 Savings Plus Program. Some employees may ask why they have to contribute to their insurance or retirement plans. There are two parts of FICA taxes, which total 15.3% combined. If you are a Paychex PEO client, you can access your Client Quarter-End Reference Guide here. Paycheck Deduction Descriptions . Consult these lists of common earnings and deductions codes, abbreviations and acronyms to help you understand what they represent. Paychex Client Quarter/Year-End Reference Guide. Social security tax. Back. Paycheck Deduction Description Additional Information The amount of money you Table 2: List of deductions abbreviations and acronyms Abbreviation and acronym Description; Acc: Accountable: AD/D: Accidental Death/Dismemberment: Adv: Advance: Arr: Arrears: BEN/Ben: Paycheck Code Category Description AltRetPNSS Retirement Alternate Retirement Plan No FICA AltRetPSS Retirement Alternate Retirement Plan AnBC LNP Medical Anthem BlueCare Prime Plus POS AnBC POE Medical Anthem State BlueCare POE AnBC POE+ Medical Anthem State BlueCare POE Plus AnBC POS Medical A . If you're using a payroll integration, Maxwell will use these codes to push the deduction amounts to your payroll system for the correct products. Back. You use your AGI to find out if you qualify for the . 3. Long Description. On this page: . If a client does not use ADP's 401(k) administration service, but does have 401(k) deductions set up, then the 401(k) amounts deducted from employee checks are calculated by ADP's payroll processing, it is up to the client to but Below is a brief explanation of the different areas of the paystub. Abbreviation page Employees and employers will split the costs and pay 7.65% each. Payments would be due between January 1, 2021 and December 31, 2021. Some companies have their own abbreviations or their own ways of using established shorthand. In a payroll period, the taxes deducted from a paycheck typically include Social Security and Medicare taxes, otherwise known as FICA (Federal Insurance Contributions Act). These withholdings constitute the difference between gross pay and net pay and may include: Income tax. 2. The employee's written acknowledgement may not make it permissible. This term includes a child who was lawfully placed with you for legal adoption. money earned but not included in a paycheck because it is used to pay the employee's taxes, insurance costs, etc.… See the full definition. Updated August 08, 2018 -- For Administrators and Employees. Among these deductions are insurance pension contributions, wage assignments, child support payments, taxes, and union and uniform dues. Click OK to the pop-up message. MC ADDL Medicare-Additional >$200,000 106. 1 short forms of Paychex, Inc.. This amount varies based on your personal situation and your completed Form W-4, which tells the employer how much to withhold for taxes. Common after-tax deductions that you might see abbreviated on your pay stub are found here. The numbers reset each fiscal year. Post the Definition of payroll deduction to Facebook Share the Definition of payroll deduction on Twitter. Paychex's small business solutions are customized for businesses with 1-19 employees to help you save time, cut costs & comply with government regulations. payroll taxes and income tax. FICA — SS — This refers to the Federal Insurance Contributions Act — Social Security that you contribute mandatory Social Security payments to. Retirement-plan deductions also can have the name of the plan provider or the type of the plan. But, when the check comes, the amount on the bottom line is always less than anticipated. Disposable Income = Gross before 401k/s125/annuities less taxes Option to use % of Disposable Income less deduction code set; Deduction code must be set up with the earning code set letter as the second character; ex. Knowing how to interpret pay stub abbreviations is a good financial skill. Payroll deductions may be taken out before taxes are withheld (pretax) or after taxes are withheld (after-tax). If you have qu estions related to your insuranceor retirement deductions, contact the HR Benefits Section: benefits@ucf.edu. Is Your Paycheck Adding Up? 401 (k) contributions. This amount The following taxes and deductions are what you can expect to see on your paycheck, explained in detail below. Understanding paycheck deductions What you earn (based on your wages or salary) is called your gross income. Deduction Code: 350 ORG Code: 191 Blue Shield Trio. Example 2. Deduction Code: 350 ORG Code: 256 CCPOA South . MEDICARE Medicare 105. Paychex will report this information as required by the IRS on the 2020 Forms W-2. NM TAX NM State Tax Withholding 120. WK COMP Workers Compensation Fee 140. Tools. Click Remove for the corresponding payroll deduction that you want to remove. You can also enter deduction codes here so that they'll appear in cost . State income tax withholding. payroll. It also comes in handy when applying for loans, credit cards, or mortgages. FED TAX Federal Tax Withholding 110. Paycheck Explanation . However, self-employed persons are required to pay the full 15.3% on their earnings. It varies by year. The new deduction service charge rates effective August 16, 2021, remittances. In taking a peek at your paycheck, you want to make sure what it is because particularly in the topic of payroll deductions, every abbreviation relates to another. A provider-administered deduction code is one that's defined and controlled by Paychex. The current rate is 2.9 percent, but you and your employer divide it in half and each pays 1.45 percent. Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits. They are deductions that are taken out from your income before the tax is calculated. payroll deduction. The maximum per tax year is $10.1575. Flat Amount-Child Support Garnishment. Deduction and Earnings codes. We all look forward to receiving our paycheck. These abbreviations vary by employer and item. Diversity, Equity & Inclusion Toolkit. Written below are some abbreviations you might find on your pay stub. Click administration | Employee Compensation | Payroll Deductions. NM UNEMP NM State Unemployment 130. Deduction Code: 350 ORG Code: 230 CCPOA North . Deductions that are mandated are government taxes; however, all other deducted .