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Q8. AKB & Associates, a firm of chartered HR Practitioners, have six employees on their payroll. Their salary for the month of September 2020,
Q8. AKB & Associates, a firm of chartered HR Practitioners, have six employees on their payroll. Their salary for the month of September 2020, are as follows: Name of Employee Akosua Mansa Victor Fred Nana Yaa Basic Salary (GHC) 8000 9500 6500 4500 10000 Non- Taxable Rent Allowance (GH) 4000 5500 3500 6500 5000 Additional Information: a) All Employees contribute 5.5% to SSNIT b) Provident Fund is 10% for all staff. c) Income Tax is 20% on taxable income Overtime Allowance (GH) 3000 2500 3000 4000 5500 You are required to prepare the payroll for the month of September 2020. (25 Marks)
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To prepare the payroll for the month of September 2020 we need to calculate the gross salary deductions and net salary for each employee Step 1 Calcul...Get Instant Access to Expert-Tailored Solutions
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