Does that mean I will get the entire 70% of the billing rate as the take home salary, without any further deductions, since HRD pays the taxes from their payroll?
There are taxes (SS Tax (13%), Medicare (2.90%), Unemployment Tax (4% only for Employer), etc.) known as Payroll Taxes. These are equally shared (50% each) by employee and employer. These Payroll Taxes are different from Federal Tax, State Tax, and City Tax. You do not take all 70% home. You pay around 20% of your gross pay as tax and take the rest home.
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