BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Net salary is the gross salary minus deductions such as professional tax, pension, income tax, etc., while gross is inclusive of all benefits such as medical allowance, conveyance, house rent allowance, etc.

Detailed explanation-2: -Net pay is the take-home pay an employee receives after you withhold payroll deductions. You can find net pay by subtracting deductions from gross pay.

Detailed explanation-3: -For hourly employees, gross wages can be calculated by multiplying the number of hours worked by the employee’s hourly wage. For example, an employee that works part-time at 25 hours per week and receives a wage of $12 per hour would have a gross weekly pay of $300 (25x12=300).

Detailed explanation-4: -Calculate gross pay using the hourly rate multiplied by the total hours worked or the salary divided by the number of pay periods. Deduct health insurance premiums, 401(k) and other pre-tax contributions. Withhold all taxes, including federal income tax, FICA taxes and state and local taxes.

Detailed explanation-5: -Gross Earning = Total Revenue – Cost of Goods Sold Where, Total Revenue = Income which any business entity generates by selling their different goods in the market or by providing their services to its customers during the normal course of the company’s operations.