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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.
Q. Why communities begin using FCA? There are several reasons why communities start by means of FCA. For instance: • To elucidate more evidently MSW costs to people. • It is
Component of Fixed Overheads Variance Fixed Overhead Expenditure Variance The fixed overhead expenditure variance is the dissimilarity between the actual fixed expend
Determine the factors that distinguish profit calculated according to (a) marginal costing and (b) absorption costing principles.
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explain the various classes of costs
Multiple Products, Selling Costs, and Margin Management Selling charge are oftentimes variable. For instance, a salesperson can be paid a designated percentage of entire sales
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In this section we have tried to develop the concept of flow of funds inside the organization. Starting along with the funds requirement for an organization, we have tried to trace
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