Base Pay Meaning. Base pay definition pay received for a given work period as an hour or week but not including additional pay as for overtime work. Generally the employees gross wages will be equal to the taxable wage base.
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May 31 2020 Base pay refers to the lowest amount of money that a person can receive under an employment agreement. The advantage for the employee is that they can rely on their base salary during leaner sales periods. Dictionary of the English Language Fifth Edition.
For instance - Joe Smith gets hired on to sell cars at a local car lot.
All members receive it and typically it is the largest component of a members pay. Basic Pay is the fundamental component of military pay. Basic salary also called base salary is the amount of money a salaried employee regularly earns before any additions or deductions are applied to their earnings. For the purpose of paying a retention incentive rate of basic pay means the rate of pay fixed by law or administrative action for the position to which an employee is appointed before deductions and including any special rate supplement under 5 CFR part 530 subpart C or similar payment under other legal authority and any locality-based comparability payment under 5 CFR part 531 subpart F or similar payment under other legal authority but excluding additional pay of any other.
