Sick Pay

Sick Pay
Sick pay refers to payments made to an employee to replace wages during periods of absence due to illness or personal injury. It includes payments from various sources such as employer, welfare funds, and state sickness or disability funds.
Supplemental Wages
Supplemental wages include bonuses, commissions, overtime pay, and certain [SICK PAY]. An employer can withhold income tax at a flat 25% rate or use the same method as for regular wages.

Accounting Terms Lexicon

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