Test on payroll deductions and net pay
1
What is Net Pay in payroll terms?
2
Net Pay is defined as Gross Pay minus what?
3
Which of the following is NOT a government-mandated deduction cited?
4
If Gross Pay is 25,000 and total deductions are 2,388.80, what is Net Pay?
5
According to TRAIN, which rate applies to taxable income over 400,000?
6
What is the annual tax table base rate for income over 8,000,000?
7
Ms. Angelo has gross 30,000 monthly. If SSS is 1,500, PhilHealth 200, Pag-IBIG 1,500, what is the monthly non-taxable deduction?
8
Using given example, what is Withholding Tax for Ms. Angelo?
9
What is the formula for Withholding Tax?
10
Which government benefit is a universal health coverage program in the Philippines?
11
Pag-IBIG contributions for salary up to 1,500 are what percent employee share?
12
For Pag-IBIG, if monthly salary is 1,600, the employee share is what percent?
13
What is 13th-Month Pay?
14
What is the formula to compute 13th Month Pay?
15
Which leave is part of Personal/Individual Benefits?
16
What agency administers the GSIS?
17
Which contribution is maxed at a SSS cap in examples?
18
What is the employee SSS share for a 101,800 monthly salary example?
19
What is the employee PhilHealth share for 45,000 monthly salary (2.5%)?
20
What is the Pag-IBIG employee share for 45,000 monthly salary (2%)?
21
In the provided material, what does Withholding Tax depend on for monthly pay?
Feedback
Net Pay = Gross Pay - Total Deductions.
Total deductions include SSS, PhilHealth, Pag-IBIG, tax, etc.
Mandatory contributions include SSS, PhilHealth, Pag-IBIG.
Net Pay = 25,000 - 2,388.80 = 22,611.20.
Tax rates escalate by brackets per TRAIN.
Highest bracket uses 35% on excess over 8M.
Non-taxable deductions = 1,500 + 200 + 1,500 = 3,200.
Withholding Tax = 895 in the example.
Withholding tax is monthly deduction: annual rate divided by 12.
PhilHealth provides universal health coverage.
Employee Pag-IBIG share up to 1,500 is 1%.
Over 1,500, employee share is 2% (not more than 200 cap).
13th-month pay is a year-end bonus.
13th month pay = (Total basic salary for year) / 12.
Maternity leave is listed as a personal benefit.
GSIS is for public sector employees.
SSS has a maximum MSC used for calculation.
Example shows SSS = 1,750 at max of 35,000 MSC.
PhilHealth = 45,000 x 0.025 = 1,125.
Pag-IBIG = 45,000 x 0.02 = 900.
Withholding tax uses annual tax rate prorated by 12.
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