Employee A earned a taxable income of 22,211 pesos calculated as follows: gross revenue of 22,921.80 pesos from basic pay of 16,562 pesos, overtime pay of 4,250 pesos, night differential of 100 pesos and holiday pay of 2,009.80 pesos, with total deductions of 711 pesos for SSS, Pag-IBIG and Philhealth dues, resulting in a taxable income of 22,211 pesos.
Employee A earned a taxable income of 22,211 pesos calculated as follows: gross revenue of 22,921.80 pesos from basic pay of 16,562 pesos, overtime pay of 4,250 pesos, night differential of 100 pesos and holiday pay of 2,009.80 pesos, with total deductions of 711 pesos for SSS, Pag-IBIG and Philhealth dues, resulting in a taxable income of 22,211 pesos.
Employee A earned a taxable income of 22,211 pesos calculated as follows: gross revenue of 22,921.80 pesos from basic pay of 16,562 pesos, overtime pay of 4,250 pesos, night differential of 100 pesos and holiday pay of 2,009.80 pesos, with total deductions of 711 pesos for SSS, Pag-IBIG and Philhealth dues, resulting in a taxable income of 22,211 pesos.
ACTIVITY From your answer in our Activity on Timekeeping, compute the taxable income of Employee A. Use this format.
Basic Pay (I go directly to per hour basis) (82.81 x P 200) P 16,562
Add: Overtime (17 hours X P 200 X 1.25) 4,250 Night Differential (4 x P 200X 1.25 X .10) 100 Holiday Pay (7.73 x P200 x 1.30) 2,009.80 GROSS REVENUE 22,921.80 LESS: Tardiness (These were already taken since I used Undertime the net no. of hours per timekeeping SSS Dues 400.00 Pagibig Dues 50.00 Philhealth Dues 261.00 Total Deductions 711.00 TAXABLE INCOME 22,211