What does allotment mean on a pay stub?

The allotment is a fixed amount of money that an employee is provided for a specific purpose and is exclusive of taxes and other deductions. It’s important to note that the allotment is not a salary as a whole. The allotment is in addition to any overtime pay; it’s not deducted from your paycheck before paying out a net salary.

What does the word allotment mean on a pay stub?

When you receive a paycheck you'll most likely notice that there are several different deductions that appear on your check. One of the most common deductions is what some call the allotment. The allotment refers to the amount of money that your employer deducts from your paycheck to cover your taxes and other mandatory deductions.

What does the word allocation mean on a pay stub?

The term “allotment” is one that refers to the way money is disbursed from a paycheck. Typically, a portion of your paycheck will be allotted to each of the different categories of expenses, such as a fixed amount for bills, another for work-related expenses, and another for your savings. You can also designate how much goes to each category from your paycheck.

What does the word allotment mean on a check stub?

Allotment refers to how much of your paycheck is designated for specific expenses, such as housing costs, food, transportation, and bills. By default, most employers pay 75% of your salary to you and the remaining 25% is for tax withholding and mandatory deductions. This means that if you make $50,000 a year, you’ll receive $37,500 in your pay check. The remaining $12,500 is allotted for housing, food, transportation, and bills.

What does allotment mean on a pay stub word?

Pay stub allotment is the amount of money that reflects the portion of your earnings that is deducted from your paycheck for your company’s contributions to your retirement savings plan or other employer-sponsored benefits. You will find the allotment amount listed on your paycheck stub, usually as “SALESTAB.”