Your paycheck will include gross and net earnings for all work performed through the end of the previous pay period, any deductions, your hours worked, any overtime hours and applicable rates of pay, the dates for which you have been paid, your name and last four digits of your Social Security number, the name and address of the Company and any hourly rates (if applicable). Your paycheck will also set forth different amounts if you are paid different rates for different types of work.
Your pay is subject to all deductions required by law, federal tax, social security payment and state and local income taxes, as applicable. The amount of the deductions will depend on your earnings and on the information you furnish on your W-4 form regarding the number of exemptions you claim. If you wish to modify this number, please request a new W-4 form from the Business Office. Only you may modify your W-4 form. Verbal or written instructions that are not provided on a W-4 form are not sufficient to modify withholding allowances. We advise you to check your pay stub to ensure that it reflects the proper number of withholdings.
Two types of deductions can be made from your gross pay: (1) those required by law and (2) voluntary deductions.
Required Deductions
Social Security / Medicare
Social Security is a program established by the federal government to assist you in your retirement or disability, and to provide survivorship benefits for deceased employees.
The Federal Insurance Contributions Act (FICA) requires matching contributions from you and the Company, which are deposited into your Social Security and Medicare accounts with the federal government.
In the event you change your name, it is of the utmost importance that you report this fact immediately to the Social Security Office in your area, to your Manager and to the Personnel Office. Payroll records cannot be changed until your Social Security card has been changed and the changes are verified and recorded by the appropriate person(s) at the Company.
To receive benefits, you must apply at your local Social Security Administration office.
Withholding Taxes
Deductions for federal, state, and local income tax (where applicable) are withheld from your gross earnings in accordance with legal requirements. If the number of your deductions changes, you should notify your Manager or Payroll Department and complete a new withholding tax certificate (W-4). At the end of each calendar year you will receive a withholding tax statement (W-2) showing your total deductions for the time worked.
Voluntary Deductions/Reductions
You may authorize voluntary payroll deductions by signing written approvals for the following, as may from time to time be available:
Health Insurance coverage for yourself or your dependents, if applicable.
401 (k) retirement plan reductions, if applicable.
Others may be authorized from time to time with Administrative approval.
The W-2 form you receive annually reflects how much of your earnings were deducted for these purposes. Any other mandatory deductions to be made from your paycheck, such as court ordered garnishments, will be explained whenever the Company is ordered to make such deductions. Questions about your pay and your deductions should be discussed with your Manager.
Should there be an underpayment of any kind, we will make every effort to pay you the underpayment as quickly as possible. In the event that there is an overpayment of any kind, it is your responsibility to bring this to the attention of your Manager and make arrangements to repay any inadvertent overpayments.