difference between stipend and salary
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Difference between Salary and Stipend The main difference between a salary and a stipend is the fact that a salary is paid in return for the work provided by an employee to the employer, whereas a stipend is paid to supplement the intern or apprentice for the time they put in to learn the trade, as opposed to the work they do.he stipend is usually less than a salary, and is expected to just cover the needs of the intern or apprentice, as opposed to the wants. In some instances, stipends may be paid in addition to some other benefits, such as accreditation, instruction, food, and/or accommodation.
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Difference Between Salary and Wages Difference Between Salary and Wages. Salary vs Wages. When someone asks your income, if you are in a private or government service, he is obviously referring to your salary. But when we talk about the income of blue collar workers or others who earn daily through their work, we invariably talk in terms of wages.
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Difference Between Salary and Wages There are people who use the terms salary and wages interchangeably without realizing that the difference between the two terms goes beyond monthly earnings. Wages are mostly associated with hourly compensation, and the employee gets money on the basis of number of hours put in by him multiplied by hourly rates.
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- When you are not appointed on salary basis and work under training, you get stipend. Many companies take freshers, train them and for their services the companies pay them stipends which are minimal amount paid for their services. So now you might have got a bit of idea about what is a stipend.ertain companies also pay stipend on less frequent basis than regular paychecks. It can be paid once a month or can be paid as lump sum once. This is why it becomes important for the person to manage money of the stipend accordingly.
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Stipend Law and Legal Definition Stipend Law & Legal Definition. A stipend is a fixed sum of money paid periodically for services or to defray expenses. The fact that remuneration is termed a fee or stipend rather than salary or wages is immaterial.Wages are generally subject to employment taxes.Payment of stipends is made according to the policies of the governing entity.he fact that remuneration is termed a fee or stipend rather than salary or wages is immaterial. Wages are generally subject to employment taxes. Payment of stipends is made according to the policies of the governing entity.
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Fellowships Although most fellowship programs do provide a living allowance or stipend, it is typically not comparable to the salary of a full-time job. This financial compensation varies greatly - stipends can range from $10,000 to up to $25,000 for a 9-12 month program.
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Salary Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.alary is also affected by the number of people available to perform the specific job in the employer's employment locale.
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What is the difference between a salary and a wage? A wage is better because you get paid for how many hours you work, while, with a salary, you get a set amount of payment. An example of a job that gets a salary is a teacher. It doesn't matter how much homework they grade over weekends and vacations, they get the same amount of money.What a Salary looks like: wage is better because you get paid for how many hours you work, while, with a salary, you get a set amount of payment. An example of a job that gets a salary is a teacher. It doesn't matter how much homework they grade over weekends and vacations, they get the same amount of money. What a Salary looks like:
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Difference Between Wage and Salary The difference between wage and salary defines more than how much you end up making per year. We use the terms to often describe differences in types of work, as well as what is actually counted in the final total.f you work 50 hours in one week, you may receive your first 40 hours at the regular pay rate, and the additional 10 hours at 1 A½ â½ times your normal pay. Rate salary earners are not often given the opportunity to get paid extra for additional. hours
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DEFINITION of 'Stipend' DEFINITION of 'Stipend'. A predetermined amount of money that is provided periodically to help offset expenses. Stipends are often provided to those who are ineligible to receive a regular salary in exchange for the duties they perform, such as interns.A stipend is generally lower than a salary would be, but the recipient is at the same time able to gain experience and knowledge in a specific field.Next Up.tipends are often provided to those who are ineligible to receive a regular salary in exchange for the duties they perform, such as interns. A stipend is generally lower than a salary would be, but the recipient is at the same time able to gain experience and knowledge in a specific field. Next Up.
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The difference between salary and wages The essential difference between a salary and wages is that a salaried person is paid a fixed amount per pay period and a wage earner is paid by the hour.Someone who is paid a salary is paid a fixed amount in each pay period, with the total of these fixed payments over a full year summing to the amount of the salary.This person is considered to be an exempt employee. There is no linkage between the amount paid and the number of hours worked.his person is considered to be a non-exempt employee. For example, a person who is paid a wage of $20 per hour will receive gross pay of $800 ($20/hr x 40 hours) if he works a standard 40 hour week, but will only receive gross pay of $400 ($20/hr x 20 hours) if he works 20 hours in a week.
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Difference Between Salary and Wages Key Differences Between Salary and Wages. Following are the major differences between salary and wages: Salary is the fixed amount of compensation which is paid for the performance of an employee. Wage is the variable amount of compensation which is paid on the basis of hours spent in finishing a certain amount of work.
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Difference Between CTC and Gross Salary Summary: 1. Cost to Company is the amount that an employer will spend on an employee in a particular year, whereas, gross salary is the amount an employee receives as a salary, before any deductions. 2. A gross salary will not include the contributions to the PF and gratuity, among other things.TC vs Gross Salary. A salary is the periodic payment that an employee receives from an employer in return for the work he provides. An employee, when seeking employment, will always look towards CTC, or Cost to Company, and gross salary.
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What Is the Difference Between Paying a Stipend & Wages? A stipend is a regular payment of money to an individual by the terms of a contract. Other benefits, such as food and housing, often accompany a stipend.ollege students on scholarship, for example, may receive a stipend to defray living expenses on campus. Once the terms of the contract or agreement are fulfilled, the stipend comes to an end.
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- But MetaSelf gives greater importance to the front/back axis, which I believe has been undervalued and insufficiently discussed. In contrast to many vertical models, the front/back axis includes two people, creating a picture of the self that is not only individual but also social. (NOTE: In Illustration 2, the 7 spaces for the second person are indicated only by the numerals 7 through 1 above the figure, because of space limitations.).
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Definitions &Translations Salary. A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis.
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Technical Cooperation Stipend rates. Stipend rates are established by the United Nations. The rates are reviewed periodically on the basis of actual expenditures incurred by fellows in the various countries of study. The stipend is normally established at two different rates for each country: the travel rate and the residential rate.
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Difference Between Base Pay And Basic Pay Gross salary-total pay before any taxes have been taken out. Net salary-take home pay, after taxes have been taken out. Base is the minimum amount you will be paid--no commissions, bonuses, dividends. Gross is everything you're paid, including dividends, bonuses, and commissions.
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Difference between Salary and Stipend It is the profit from employment. A salary is the payment, remuneration or emolument that one receives in return for work and/or services provided. It is paid periodically, i.e. over a specified interval of time, such as weekly, or more commonly, monthly. http://www.excellenceaccounting....
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Whats the difference between income and salary? Best Answer: Income is any money you have coming in. Salary is pay you get from working. Salary is income, but income is not necessarily salary.Income can also be from interest, investments, etc. which might or might not require work, but do require money or something of value that someone is willing to pay for.est Answer: Income is any money you have coming in. Salary is pay you get from working. Salary is income, but income is not necessarily salary.
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- Businesses with up to $5 billion paid a total of $182,500, and those with $5 billion or more paid $236,650. In addition to the pay for being a board member, board chairs receive a stipend. According to Cook and Company, stipends vary by industry. In 2013, in financial services and technology, the median stipend was $50,000. In the retail industry, the median stipend was $100,000 in 2013.
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Are Stipends Taxable Income? A: Stipends are taxable when they are for general living expenses. When it comes to stipends from a grantor, if the person has to perform duties to earn the stipend, then it is also taxable. Stipends are not taxable when they are applied to education-related expenses and college tuition.
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What is the difference between salaries payable and salaries expense?   Answer   A salary is paid based on an annual figure and the salaried employee typically received the same paycheck every weeks, regardless of hours worked or perfor … mance. (Annual salary / 52 weeks = weekly paycheck.)   A wage is paid based on the number of hours an emplyee works.age usually refers to an hourly rate, and salary to a weekly or semi-honthly rate. So if a wage earner works 40 hours one week and 45 the next week, he gets paid more for the … second week. A salaried worker works long enough to get the job done and usually gets the same pay every payday.
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The Difference Between Base Salary & Total Compensation Base Salary. Base salary is what you see on your paycheck. It is the amount per hour or per year that you are paid for performing your job. Base salary does not include any bonuses, benefits or perks associated with the job. It increases with raises or adjustments, but remains the yearly or hourly wage paid. Base salary is typically the number you say when people ask you how much you make -- what you are paid. Total Compensation
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How to Pay an Employee a Stipend To stay out of legal trouble, stipends should be priced appropriately and not used as a substitute for salary. Write a draft of a stipend policy that outlines both when a stipend will be issued to an employee as well as how that stipend will be paid. Stipends are usually paid to an employee when they perform work that goes above and beyond their normal work duties.
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Difference Between Salary and Wages · Salaried employees do not get any additional money if they put in higher number of hours, but employees working on hourly wages get 1.5 times or twice their hourly rates for all hours in addition to the minimum agreed number of hours (usually 40 hours) in a week.Related posts:hen someone asks your income, if you are in a private or government service, he is obviously referring to your salary. But when we talk about the income of blue collar workers or others who earn daily through their work, we invariably talk in terms of wages.