BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What you make before deductions?
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Gross Pay
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Savings
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Earned Income
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Net Pay
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Explanation:
Detailed explanation-1: -Gross salary is the amount received by an employee without any tax deductions. Net salary is the amount that an individual receives after all deductions have been taken out.
Detailed explanation-2: -Net Salary is Income Tax deductions, Public Provident Fund, and Professional Tax subtracted from gross salary, which means, Public Provident Fund and Employee Provident Fund are a stipulated percentage of the employee’s salary, typically no less than 12% of the basic salary.
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