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Since pension auto enrolment was introduced in 2012, more people than ever have pension deductions – employee and employer pension contributions – showing on their payslips. Every payslip must show an employee’s total or grosspay, their net or take-home pay, any deductions or payments, and list any variable hours that have been worked.
Take-home pay consists of the income an individual receives after taxes, benefits, and other contributions are deducted. Take-home pay may also be called net pay. An employee’s take-home pay is the difference between their grosspay and deductions. Take-home pay vs. grosspay.
Employers make initial investments into necessary equipment on the behalf of employees, and a sum is then deducted from employees’ grosspay. If the employee leaves their employment, the remaining amount is deducted from their net pay and the bike becomes liable for tax. On average, employers can save 13.8%
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