Calculation of deductions - wages department, Cost Accounting

Calculation of Deductions - Wages Department

A range of deductions are complete from gross earnings when computing the net payment because of the employee, that deductions may be statutory or voluntary or obligatory in nature

- Statutory Deductions are pay like you earn or PAYE tax, and employees, pensions, national insurance contributions. The employer computes the amount because of, to be deducted utilizing the relevant rate in force and after that arranges to make a net payment in respect of each employee to the revenue authority.

- Obligatory Deductions are most likely to include payments to an approved pension fund. As an example of National Social Security Fund or NSSF. One time again it is likely that the employer will create a contribution in addition to the employee

- Voluntary Deductions include items like trade union subscription, charity contributions and deductions to saving schemes.

Posted Date: 2/5/2013 6:30:43 AM | Location : United States







Related Discussions:- Calculation of deductions - wages department, Assignment Help, Ask Question on Calculation of deductions - wages department, Get Answer, Expert's Help, Calculation of deductions - wages department Discussions

Write discussion on Calculation of deductions - wages department
Your posts are moderated
Related Questions
Place a prepared slide of Giardia first under tlie low power and then under the high power of the microscope and observe tlie followilig characters. i) Bilaterally symmetrical

WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS

Standard Cost It is especially serious that you establish a link between standard budgets and costs. At this point, you require putting in your mind to standard costs one the

1. A company is considering a project that requires an initial investment of $100 million and will pay $20 million of each of the next 10 years, and nothing thereafter. The company


process costing new practices

what are the purposes of cost accounting information

Hello, I''m currently doing a research on a company and planning an Activity Based Costing system since the company is using Traditional Costing system to allocate the overhead to

scope and limitations of product costing

Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long-term investment for $900,000. During the year, Paxton Corporation reported net income of $300,