What is Net Pay?
According to Worthington and Cosentino (2005), net pay can be understood as an effective thickness that is relevant to the selection of flow units and target intervals for well completions and stimulation programs.
Simply put, net pay is the sum of money that is credited to an employee following deductions from gross pay. Mandatory income taxes, additional taxes, and benefits like health insurance and retirement savings plans are all deductible.
Among the potential deductions are:
- Income Tax Professional Tax Employee Provident Fund (EPF)
- Healthcare or voluntary deductions are examples of alternative compensation schemes.
