Design a salary slip for the month of March 2021 with information given below.Fixed vs variable ratio- 70:30Ctc - 20LBasic- 50%Hra- 20%Travel allowance- 2000Insurance - 2500Incentive with 75% target completionPf 12%Earned leaves - 7 Payslip For NOVEMBER 2012Personnel No.01223455NameRohit SharmaBankICICIBank A/c No.0123445667715/01/13DOJLOP DaysPF/12/dfPF No.STD Days30LocationBangaloreWorked Days30DepartmentITDesignationSoftware EngineerEarningsAmount in Rs.DeductionsAmount in Rs.BASIC9,965.00 PROVIDENT FUND1,196.004,982.00 PROFESSIONAL TAX7,093.00 INCOME TAXHOUSE RENT ALLOWANCE200.00SPECIAL ALLOWANCE194.00CONVEYANCEADDNL SPECIAL ALLOWANCEONCALL/SHIFT ALLOWANCE800.003,333.001,800.00STAT BONUS700.0028,673.00 GROSS DEDUCTIONSNET PAY 27.083.00GROSS EARNING1,590.00

Monthly CTC = 20,00,000/12 = 1,66,667 Fixed vs Variable ratio = 70:30 Fixed part of salary = (70% of…

Design a salary slip for the month of March 2021 with information given below. Fixed vs variable ratio- 70:30 Ctc - 20L Basic- 50% Hra- 20% Travel allowance- 2000 Insurance - 2500 Incentive with 75% target completion Pf 12% Earned leaves - 7

Design a salary slip for the month of March 2021 with information given below. Fixed vs variable ratio- 70:30 Ctc - 20L Basic- 50% Hra- 20% Travel allowance- 2000 Insurance - 2500 Incentive with 75% target completion Pf 12% Earned leaves - 7

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Payslip For NOVEMBER 2012
Personnel No.
01223455
Name
Rohit Sharma
Bank
ICICI
Bank A/c No.
01234456677
15/01/13
DOJ
LOP Days
PF/12/df
PF No.
STD Days
30
Location
Bangalore
Worked Days
30
Department
IT
Designation
Software Engineer
Earnings
Amount in Rs.
Deductions
Amount in Rs.
BASIC
9,965.00 PROVIDENT FUND
1,196.00
4,982.00 PROFESSIONAL TAX
7,093.00 INCOME TAX
HOUSE RENT ALLOWANCE
200.00
SPECIAL ALLOWANCE
194.00
CONVEYANCE
ADDNL SPECIAL ALLOWANCE
ONCALL/SHIFT ALLOWANCE
800.00
3,333.00
1,800.00
STAT BONUS
700.00
28,673.00 GROSS DEDUCTIONS
NET PAY 27.083.00
GROSS EARNING
1,590.00

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