Respuesta :
$2891 is his new monthly net pay.
If chine reduces his federal income deductions from 12% to 11%, the new federal income tax will be as below.
11% of $3500
11/100 x 3500
=0.11 x 3500
=$385.
Total deductions after this change will be -$385+ $95 + $89 + $40
=$609
Net pay
=$3500-$609
=$2,891
What is Net salary?
- The sum that is credited to an employee's salary account each month is known as the "Net Salary," also known as the "Take Home Salary" (or weekly, depending on the terms of the employment contract). This amount is given by the business where the employee works after the employer deducts things like professional taxes, EPF, etc.
- It is important to remember the net salary while calculating salaries. The amount an employee really receives in exchange for the services they deliver to the company is known as net salary. The money collected can be used to control costs such as rent, mortgage payments, travel expenses, etc.
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