Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer all four parts complete with all steps to get 100% feedback!! The basic salary of an employee is 20,000 find the following for this

Answer all four parts complete with all steps to get 100% feedback!!

image text in transcribed

The basic salary of an employee is 20,000 find the following for this salary. (a) Calculate the allowances, if allowances are 50% of the basic salary. What is the taxable income of employee? Also find gross salary? (b) What is the cost of the company on account of leaves (18.2%), group insurance/medical (5%) and other social benefits (5.8%)? (c) What is the total saving of the employees per month on account of provident trust fund and Gratuity? (d) Define the Gross Remuneration and also find Gross Remuneration for the above salary package

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Financial Management For Residential Construction

Authors: Emma Shinn

6th Edition

0867187816, 9780867187816

More Books

Students also viewed these Accounting questions

Question

5. Talk at the right times with the right tone of voice and volume.

Answered: 1 week ago