Withholding Tax On Monthly Compensation Income
Withholding Tax On Monthly Compensation Income
Step 3. Compute for the total deductions. Step 4. Compute for the net pay using all
SSS EE Contribution xxx earnings deducted by all deductions.
PHC EE Contribution xxx Gross pay xx,xxx
HDMF EE Contribution xxx Less: Total deductions (x,xxx)
Withholding Tax xxx NET PAY xx,xxx
Other deductions xxx
TOTAL DEDUCTIONS xxx
Problem 1 Gross pay 24,448
Jean Abe, an employee has a monthly basic Less: SSS EE Contribution (800)
salary of P20,000. She had a one day unpaid Less: PHIC EE Contribution (300)
leave amounting to P766 and a 15 minute late Less: HDMF EE Contribution (100)
amounting to P24. Total overtime pay amounted Less: Other nontaxable income (1,800)
to P1,438. During the month, she is given rice TAXABLE INCOME 21,448
subsidy of P1,800 and other taxable income of
P2,000. Compute for the following: SSS