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Answer Posted / kriti arora
a bank is a financial institution which accepts deposits of the customer and grant credit to the general public.
the difference between the interest rate of granting credit to the public and receiving deposits from the customer is the source of income for the banks.
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the official time (working hours) of juan magalang is 7:00 am to 4:00pm.lunch break is one hour that is from 12:00-1:00pm. the management allows a grace period of 10 minutes for lates. more than 10 minutes late is deducted one hour as punishment. juan works from monday to friday his official time are as follows. am pm overtime in out in out in out monday 7:05 12:05 1:00 4:05 tuesday 6:59 12:01 12:58 4:03 wednesday 7:15 12:04 12:56 4:00 thursday 6:56 12:01 1:05 4:00 4:00 10:00 friday 7:01 12:10 12:50 4:05 his daily rate is 404 pesos, this include the COLA. if SSS deduction is 100 pesos per month Philhealth contribution is 100 pesos and Pag-ibig fund is 100 pesos. if he is married with 2 kids ages 10 to 12 years old how much tax will be deducted from his income? assuming payroll is every 15th and 30th of the month, compute for his take home pay, if tax,SSS, Pag-ibig and Philhealth are deducted on the 15th of the month, how much will be received on the 15th and 30th assuming table shown are the same for the three other weeks.
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