1. Compute for his withholding tax for the month of March given that he had overtimes amounting to 2,980. And holiday pay of 5,275.38. Plus any benefits received this month?
Assume that Lito Maria has a basic monthly income of 65,980. His company provides the following benefits to their employees: educational benefit of 45,000 per child (Lito has 5 children, 1 has already graduated is working); rice allowance of 1500 per month; load allowance of 800 per month; laundry allowance given every end of the quarter 2500; uniform allowance given every March 8,000 and an anniversary bonus of 12,000 given every October. His company provides 13th month pay as mandated by the government. Compute for the problems individually unless specifically stated.
1. Compute for his withholding tax for the month of March given that he had overtimes amounting to 2,980. And holiday pay of 5,275.38. Plus any benefits received this month?
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