BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The period covered by a salary payment.
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pay period
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tax base
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total eanings
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salary
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Explanation:
Detailed explanation-1: -The Payment of Wages Act states that the maximum pay period cannot be more than a month. Other statutes such as The Shops and Establishment Act too state that a single pay period cannot be greater than one month.
Detailed explanation-2: -Salary Period is the period for which salary is paid. The period can be a week, fortnight, month and so on.
Detailed explanation-3: -the amount of time that an employee works before being paid, for example a week or a month: The length of notice to quit that you must give often depends on your pay period.
Detailed explanation-4: -For calculating salary, we must consider 30 days irrespective of any month. We consider 26 days for Gratuity & Leave Encashment calculation.
There is 1 question to complete.