BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$525.00
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$369.34
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$155.66
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Detailed explanation-1: -Gross Salary is employee provident fund (EPF) and gratuity subtracted from the Cost to Company (CTC). To put it in simpler terms, Gross Salary is the amount paid before the deduction of taxes or other deductions and is inclusive of bonuses, overtime pay, holiday pay, and other differentials.
Detailed explanation-2: -To calculate gross pay for hourly workers, multiply the hourly rate by the hours worked during a pay period. For example, a part-time employee who works 35 hours at $12 per hour will have a gross pay of $420. Overtime rates must also be accounted for, if applicable.
Detailed explanation-3: -Net Pay = Gross Pay – Deductions and Taxes It’s that simple. All you have to do is figure out your gross pay and total deductions and taxes, then subtract the latter from the former.