A percentage of an hourly wage rate (or salary) that represents the employer's additional costs
of employee benefits such as paid vacation days, paid sick days, insurance (health, dental, life,
worker compensation), retirement plans, federal and state employer payroll taxes (Social
Security, Medicare, unemployment insurance), cafeteria, daycare, etc.
For more on this term, search our site:
Learn Accounting: Gain unlimited access to our seminar videos, flashcards, visual tutorials, exams, business forms, and more when you upgrade to PRO.
After working as an accountant, consultant, and university accounting instructor for more
than 25 years, Harold Averkamp formed AccountingCoach in 2003. His goal was to
share his knowledge and passion for teaching accounting with people throughout the
world at a very low cost. Read More...