Question
Outputs: Life Insurance Withholding Tax Housing Insurance Health Insurance Total Deductions Net Salary 1. Draw a flowchart to calculate the total monthly deductions as well
1. Draw a flowchart to calculate the total monthly deductions as well as net monthly salary of an employee given the following specifications: Inputs: Name of employee Designation Monthly gross salary Process: Life Insurance = if gross salary is below 30,000.00 then 2.5% of gross salary else 7.5% of gross salary Withholding Tax = below 30,000.00 if Gross salary (PhP) then Tax due (PhP) none between 30,000.00 and 50,000.00 15% of gross salary 25% of gross salary more than 50,000.00 Housing Insurance = 1.5% of gross salary Health Insurance = if gross salary is below 30,000.00 then 150.00 else 200.00 Total Deductions = Life Insurance + Withholding Tax + Housing Insurance + Health Insurance Net Monthly Salary = Gross Monthly Salary - Total Deductions
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Get StartedRecommended Textbook for
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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