What is Gross Salary?
Gross salary is the amount of money paid to an employee before taxes and deductions are discounted. It is the gross monthly or annual sum earned by the employee.
What is Gross Salary?
Gross salary, also known as gross pay, is the total amount of money that an employee earns before any deductions or taxes are taken out. It is the amount of money that an employer pays to an employee for the work that they have performed during a specific pay period, such as a week, a month, or a year.
Gross salary includes all forms of compensation that an employee receives, such as base salary, overtime pay, bonuses, commissions, and allowances. It may also include the value of any non-monetary benefits that an employee receives, such as health insurance, retirement benefits, and stock options.
It is important to note that gross salary does not take into account any deductions or taxes that are withheld from an employee's pay, such as income tax, Social Security tax, Medicare tax, and any other deductions that the employer is required to make. These deductions are subtracted from the gross salary to arrive at the employee's net pay, which is the amount of money that the employee receives after all deductions and taxes have been taken out.