How do you you calculate NETPAY?

Answer 1

To calculate net pay, start with the gross pay, which is the total earnings before any deductions. Subtract mandatory deductions such as federal and state taxes, Social Security, Medicare, and any other withholdings like retirement contributions or health insurance premiums. The result is the net pay, which is the actual amount the employee takes home. Ensure to account for any additional voluntary deductions or benefits that may also affect the final net pay.