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The quantities usually do not depict costs of your employer. The employer is solely performing being an middleman, collecting cash from employees and passing it on to statutory bodies.
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Web pay and withholding liabilities: Payroll withholdings include things like Obligatory deductions According to statute and voluntary deductions approved by Every single employee. Withheld amounts represent liabilities, as the corporate should pay back the amounts withheld to the appropriate statutory social gathering.
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