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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
Per diem
Per diem is a Latin word that means by (per) the day (diem).
Statutory Costs
Statutory costs refer to the expenses that a business is legally required to pay under national or regional laws and regulations.
In-kind benefits
A benefit-in-kind (BIK) is any non-cash benefit of monetary value.
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