What is Income?
Income is money received, especially on a regular basis, for work or through investments. This basically means that it is the amount of money that you get for a certain job. Income can vary based on type of job, rank in that job, and other variables that could make your earnings fluctuate.
Commission Pay
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Commission pay is a sum of money that is paid to an employee upon completion of a task, usually selling a certain amount of goods or services. Take someone who sells cars as an example. They have a set commission when they sell a car. If they had a 10% commission, and they sold a $10,000 car, they would make a profit of $1,000.
Tips and BonusTips are added payments that you can receive for doing extra work. This is very similar to a bonus, which is an amount of money added to wages on a seasonal basis, especially as a reward for good performance.
Minimum wageMinimum wage is the lowest wage permitted by law or by a special agreement (such as one with a labor union). Currently, Currently, in Indiana, the minimum wage is $7.25 an hour, which means that you would make approximately $15,080 in one year, depending on the added bonuses.
What is Salary?A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker. Salary is a set payment, and usually comes in a paycheck.
Direct Depositthe electronic transfer of a payment directly from the account of the payer to the recipient's account. You can learn how to set up a direct deposit at this website.
Benefits of Your CompanyUsually, companies give their employees extra benefits or opportunities for their job. Here is a few listed below:
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