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  2. Key Takeaways

    • Payroll codes are abbreviations on pay stubs that represent key information about an employee’s gross and net earnings, withheld taxes, and voluntary deductions.
    • The four main types of payroll codes are earnings payroll code, tax deductions payroll code, pre-tax deductions payroll code, and post-tax deductions payroll code.
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  3. People also ask
    What are earnings payroll codes?Earnings payroll codes are pay stub abbreviations that pertain to the employee’s job role and the pay period covered by a specific pay stub or payroll. The said code also encompasses all types of pay or compensation, whether they refer to the employee’s regular rates, paid time-off, or overtime pay.
    What are payroll codes?Payroll codes are pay stub abbreviations that help accountants and payroll personnel regulate their payroll management processes and guarantee that all employees are properly compensated. There is much to learn about payroll codes, from the different types of codes used by employers to understanding how to read the meaning of each.
    Which pay plan codes are used for General Schedule positions?The following pay plan codes are used for General Schedule positions: GM - Employees covered by the General Schedule classification and pay system who are covered by the Performance Management and Recognition System (PMRS) termination provisions of Public Law 103-89 (former PMRS employees).
    What is a pay plan code?A pay plan is a two-digit alphabetical code used to identify Federal civilian pay systems. The U.S. Office of Personnel Management (OPM) approves pay plan codes for agency use. OPM-approved pay plan codes are found Part A of the Guide to Data Standards.
     
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