Deductions: Wages withheld from an employee's earnings for the purpose of paying taxes, benefits and other mandatory items (e.g., garnishments) or voluntary contributions (e.g., charitable donations)
Gross pay: Total pay before taxes and deductions
Net pay: Take-home pay after taxes and deductions are subtracted from earnings
Compensation: All monetary and non-monetary payments, including the value of benefits, received by an employee
Pay stub: A summary document that demonstrates the factors – number of hours worked, the rates paid for those hours, deductions for taxes and benefits, etc. – that were used to calculate an employee’s pay for a designated period of time