What is the difference between Difference Gross Pay and Net Pay ? - ProProfs Discuss
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What is the difference between Difference Gross Pay and Net Pay ?

Asked by B. Wright, Last updated: Aug 22, 2019

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E. Barnes

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E. BarnesProfessional Gamer, Professional Gamer, Washington
Professional Gamer, Professional Gamer, Washington

Answered on Aug 22, 2019

While both Gross Pay and Net Pay are referring to the salary an employee or a worker is going to receive by accomplishing a task, there are some differences between the two. Salary is paid to most workers on monthly basis, while some receive theirs hourly. Gross pay means the amount of money a worker will be paid before deductions will be made from the money. This includes bonuses, reimbursement, and other additional benefits.

For example, if an employee is getting $10 by working for a period of an hour, if he works for 20hrs, he's going to get $200. From this example $200 is the gross pay, and it might also include some bonuses. Net pay, on the other hand, is the amount an employee or a worker is going to get after all necessary deductions have been made. Some of these deductions are taxes, social security fee. Net pay also means the amount left after all deductions have been made on your gross pay.

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