Social Security Tax Payment

Social Security Contribution - A Social Security Contribution refers to the payment made by employees and employers to fund the social security system, which provides benefits for retirement, disability, and survivorship. These contributions are typically deducted from wages and matched by employers, ensuring financial support for eligible beneficiaries.

Class Information

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Identification

Label (rdfs)
Social Security Contribution
Preferred Label
Social Security Tax Payment
Alternative Labels
Social Insurance Contribution, Social Insurance Payment
Identifier
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Definition and Examples

Definition
A Social Security Contribution refers to the payment made by employees and employers to fund the social security system, which provides benefits for retirement, disability, and survivorship. These contributions are typically deducted from wages and matched by employers, ensuring financial support for eligible beneficiaries.
Examples
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Translations

en-us
FICA Payment

Class Relationships

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Additional Information

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Deprecated
False

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