The NFL minimum salary for practice squad players is $6,300 a week for the 2014-15 season, though individual player contracts do vary. A player who spends the entire season on the practice squad earns $107,100 minimum as of February 2015.
NFL teams are allowed to carry up to 10 practice squad players. The contracts for these players still count against the team's overall salary cap. Practice squad players can be released at any time during the season.
Practice squad players are free to sign with opposing teams as well, but can only be signed to the active 53-player roster. A practice squad player who signs with a team's upcoming opponent must do so at least six days before the game or 10 days before the contest on bye weeks.