Yes I agree that "Payroll Taxes" must be withheld by the Employer from an Employee's payroll. This is required by law. Employers must hand these withholding Taxes over to various Tax Agencies.
The employer portion of the payroll taxes is computed by multiplying the gross wage by the appropriate percentage assigned to that tax. For example, the social security percentage would be6.2% each for the employer and the employee. Medicare would be1.45% for each. Your state/county will each have their own percentages.1. The employer pays one half of the FICA taxes at7.65% (Medicare is1.45% - OASDI is6.2%)2. The employer pays Federal Unemployment Tax (FUTA) which is calculated at .8% of the first $7000 of employee wages - works out to $56 per employee per year if they make over $7000.00.3. The employer pays State Unemployment Taxes - rates and amount vary by State.
The remaineder of the taxes are withheld from the emplyees paychecks.
من قبل
Murad Zaman , HR Quality Assurance Administrator , Kuwait Energy Basra Limited
No - its not only responsibility of Employer but also on the Employee - In few countries Tax is withheld from the employee and deposited whereas on few places it is withheld from employees but also Employer do contribution and then deposited. So in this case both Employer and Employee are responsible. Mutually contributed Taxes can be Social Security, CP Fund, Government Provident Fund. Independently paid taxes only from employee can be Income Tax, Wealth Tax etc.
