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A company's employee has a UIF Contribution of R320, which is 2% of their Gross salary. If their total deductions are R1 280 (8% of Gross salary), calculate their Gross and Net salary.
Accounting
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Answer
Gross salary
Net salary
Step-by-step solution
2 stepsCalculate the Gross salary.
The UIF Contribution of R320 represents 2% of the Gross salary.
Let be the Gross salary.To find the Gross salary, divide the UIF Contribution by its percentage:
Calculate the Net salary.
The Net salary is calculated by subtracting the Deductions from the Gross salary.
The Deductions are given as R1 280.The completed table for the omitted employee is:
Gross salary Deductions Net salary UIF Contribution R16 000 R1 280 (8%) R14 720 R320 (2%) The missing values are:
Gross salary:
Net salary:
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