Have you ever looked at your payslip and wondered why the amount deposited in your account is smaller than the figure at the top? One of them is gross pay, and the other one is net pay!
That’s why understanding the differences between gross pay vs net pay isn’t just for accountants. It’s significant for both employees and employers. Knowing these terms inside out will help you while negotiating a salary, creating a budget, or managing payroll.
In this blog, we’ll break down gross pay vs net pay, their components, and how to calculate them. Let’s explore what makes these figures tick and how understanding them can impact your finances.
