The term “payroll” is a general term, and it has several meanings. It can be the amount of money paid to all employees in a payday, the financial records of a company relating to the payment of wages and salaries to employees, or the total record of earnings of all employees for a year. In… Read More Payroll

Overtime Pay

In Saskatchewan, weekly hours of work are set at 40, with daily hours set at either 8 or 10. If employees work more than these set hours, overtime must be paid 1.5 times their regular hourly wage. Of course, you can pay overtime at higher rates. For example: You work for the province’s minimum wage, $10.96/hour, for 46 hours during one particular… Read More Overtime Pay

Net Pay

The total earnings paid to an employee after payroll taxes and other deductions is called net pay. Subtract the total deductions (SEE: payroll deductions post) from total earnings to determine net pay. Based on the average Saskatchewan salary of $52,728, the net pay calculations are as follows: Total income: $ 52,728 Federal tax: $ 5,801… Read More Net Pay