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Net salary
The wage that the employee actually receives after income tax is deducted.
The net salary (i.e. free of social security contributions) is the wage that the employee actually receives after income tax is deducted. Think of it as ‘cash in hand’; what you end up with on your paycheck after everything is deducted.
Related Glossaries
Payslip
A pay slip is an official document provided by an employer to an employee, detailing the employee's earnings and deductions for a specific pay period.
Deductions
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
IBAN
IBAN is an acronym for International Bank Account Number.
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