HNDA 2nd Year, Second Semester Examination – 2017

2202 – Computer Application for Accountancy

Lecturer: W.M.J.M. Thilakasiri
Suggested Solutions

Question No 03 - ii

01.  The following simple data is extracted from the payroll of PQR Company for the month of February 2018. You
have been asked to apply appropriate P.A.Y.E (Pay As You Earn) Tax rate using “Vlookup” function and calculate EPF
10%, P.A.Y.E amount, Net salary, EPF 15%, Total EPF contribution (15% , 10%) and ETF 03% with appropriate
formula to complete the pay sheet extracted in the given data file.

Extracted of Pay Sheet

Total E.P.F. Contribution
EMP No EMP Name Designation Gross Salary (Rs.) E.P.F. 10% Other Deduction Tax Rate % Payee Tax amount (Rs.) Net Salary E.P.F 15%
(15%+10%)
 001 A Director   110,021.00 3,500.000
 002 B Manager  80,578.00 1,800.000
 003 C PR Officer  50,550.00 -
 004 D Accountant  71,180.00 1,000.000
 005 E Mgt. Asst. 27,800.00 -

Simple P.A.Y.E Tax Table

Monthly amount Deduction Percentage (%)
0 1.00%
62,501 1.50%
70,001 1.70%
80,001 1.90%
90,001 2.00%
100,001 2.25%
101,001 2.50%
E.T.F 03%
HNDA 2nd Year, Second Semester Examination – 2017
2202 – Computer Application for Accountancy
Lecturer: W.M.J.M. Thilakasiri
Suggested Solutions

Answer No 03 - ii
EMP No EMP Name Designation Gross Salary (Rs.) E.P.F. 10% Other Deduction Tax Rate % Payee Tax amount (Rs.) Net Salary E.P.F 15% Total E.P.F. Contribution (15%+10%) E.T.F 03%
 001 A Director   110,021.00 11,002.10 3,500.00 2.50% 2,750.53 92,768.38 16,503.15 27,505.25 3,300.63
 002 B Manager  80,578.00 8,057.80 1,800.00 1.90% 1,530.98 69,189.22 12,086.70 20,144.50 2,417.34
 003 C PR Officer  50,550.00 5,055.00 - 1.00% 505.50 44,989.50 7,582.50 12,637.50 1,516.50
 004 D Accountant  71,180.00 7,118.00 1,000.00 1.70% 1,210.06 61,851.94 10,677.00 17,795.00 2,135.40
 005 E Mgt. Asst. 27,800.00 2,780.00 - 1.00% 278.00 24,742.00 4,170.00 6,950.00 834.00
HNDA 2nd Year, Second Semester Examination – 2015
2202 – Computer Application for Accountancy
Lecturer: W.M.J.M. Thilakasiri
Suggested Solutions

Question No 03 - i

01.  Given below is the Pay sheet of ABC Bank for month of December, 2015.
EMP No EMP Name Designation Basic Salary Allowance Gross Salary (Rs.) E.P.F. Other Deduction Net Salary E.P.F 15% Total E.P.F. Contribution (15%+10%) E.T.F 03%
 001 A Director   110,021.00 16,503.15 126,524.15 12,652.42 3,500.00 110,371.74 18,978.62 31,631.04 3,795.72
 002 B Manager  80,578.00 12,086.70 92,664.70 9,266.47 1,800.00 81,598.23 13,899.71 23,166.18 2,779.94
 003 C PR Officer  50,550.00 7,582.50 58,132.50 5,813.25 52,319.25 8,719.88 14,533.13 1,743.98
 004 D Accountant  71,180.00 10,677.00 81,857.00 8,185.70 1,000.00 72,671.30 12,278.55 20,464.25 2,455.71
 005 E Mgt. Asst. 27,800.00 4,170.00 31,970.00 3,197.00 28,773.00 4,795.50 7,992.50 959.10

Complete the above Pay sheets are also given in your data file using the following instructions and prepare a Pay – Slip
model to view particulars of individual employee using their EMP No.

·         Allowance – 15% on Basic salary.

·         EPF 10% on gross pay.
·         Stamp duty Rs. 25.00 for employee who gets more than Rs. 75,000.00 as gross pay.
·         Use “VLOOKUP” function to create Pay-Slip model.
HNDA 2nd Year, Second Semester Examination – 2015
2202 – Computer Application for Accountancy
Lecturer: W.M.J.M. Thilakasiri
Suggested Solutions

Answer No 03 - i

ABC Bank
Pay Sheet
For month of December, 2015
EMP No EMP Name Designation Basic Salary Allowance Gross Salary (Rs.) E.P.F. Other Deduction Stamp Duty Net Salary E.P.F 15% Total E.P.F. Contribution (15%+10%) E.T.F 03%
 001 A Director   110,021.00 16,503.15 126,524.15 12,652.42 3,500.00 25.00 110,371.74 18,978.62 31,631.04 3,795.72
 002 B Manager  80,578.00 12,086.70 92,664.70 9,266.47 1,800.00 25.00 81,598.23 13,899.71 23,166.18 2,779.94
 003 C PR Officer  50,550.00 7,582.50 58,132.50 5,813.25 - 52,319.25 8,719.88 14,533.13 1,743.98
 004 D Accountant  71,180.00 10,677.00 81,857.00 8,185.70 1,000.00 25.00 72,671.30 12,278.55 20,464.25 2,455.71
 005 E Mgt. Asst. 27,800.00 4,170.00 31,970.00 3,197.00 - 28,773.00 4,795.50 7,992.50 959.10

Pay - Slip
EMP No  001 Click the Drop Down Menu
EMP Name A
Designation Director  
Basic Salary 110,021.00
Allowance 16,503.15
Gross Salary (Rs.) 126,524.15
E.P.F. 12,652.42
Other Deduction 3,500.00
Stamp Duty 25.00
Net Salary 110,371.74
E.P.F 15% 18,978.62
Total E.P.F. Contribution (15%+10%) 31,631.04
E.T.F 03% 3,795.72
Total Salary 164,777.12