Browse benefits, reimbursements and voluntary deductions.
GFC may describe an employer-provided gift certificate. Cash-equivalent gift cards generally cannot use the de minimis fringe-benefit exclusion just because their value is small.
Employer-specific label: this is a possible interpretation. Confirm the full meaning in the codebook for the employer that issued your statement.
How to read this entry
Use the possible interpretation Gift certificate or gift card alongside the column heading. An earnings amount, an employee deduction and an employer-cost memo can have different effects even when their labels look similar.
Example on a pay statement
A $25 gift card can create $25 of taxable noncash wages. The card value is not another cash deposit.
Examples illustrate the checking method. They are not a personal tax calculation or a promise of a particular benefit.
What to check with payroll
Check the benefit’s value and any payroll offset or tax gross-up.
Compare related entries
Read the benefits, reimbursements and voluntary deductions guide to compare the entries in this part of your statement. Use the full pay stub code directory when a second abbreviation is unfamiliar.
Reference and scope
Official guidance on benefits, reimbursements and voluntary deductions provides background on the underlying rules. It does not validate an individual employer’s internal abbreviation.