Wages

Hourly Rate: The basic rate of pay for each hour worked, as agreed upon in the employment contract or collective bargaining agreement.
Overtime Pay: Additional compensation for hours worked beyond the standard workweek, often at a higher rate, in accordance with labor laws.
Bonuses: Performance-based payments or incentives that reward employees for achieving specific goals or targets.
Tips: Additional compensation received directly from customers, often applicable in service industries.
Variable Pay: Other forms of variable compensation, such as shift differentials, hazard pay, and allowances, that contribute to total earnings.

What are Wages?

Compensation for work performed. Wages include hourly pay, salaries, and bonuses. They are subject to taxes and withholdings.

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