QUESTION 4:
SALARIES & WAGES
(21 marks; 15 minutes)
4.1
INFORMATION:
The following salary scale is used by Steve Traders for all salary earners:
Notch 1 Notch 2 Notch 3 1110008000- 135000x12500-172500x20000)
Notch 4 232,500
Page 6 of 9 Please turn over
4.2
Information relating to Payslip/Salary advice.
Mock Payslip
NextGen Essentials
10 Geneva Road Camps Bay Cape Town 8005 th Ahrics Gauteng
Payroll
First Names Birth Date: Engagement Date Tax Status
NextGen Essentials Matthew 04 Nov 1969 01 Apr 2020 ono uatoydug prepung
Last Name: Posifon:
McConaughey Actor (ACT) g g ZAR
Currency
Tax Code 33-500.00 3601 2000.00 3713 2500.00 3701 38,000.00 Current Tax Code 2,721.50 907.00 280.00 8,673.51 4102 148.72 4141 12,730.73 25,269.27 Tax Code 2,721.50 4474
Basic Pay
Total Earnings Deductions Medical Aid Employee Deduction - Discovery Executive Medical Aid Savings Employee - Discovery Executive Medical Aid Vitality Employee - Discovery Vitality Tax Paid UF Employee Total Deductions Net Pay Package Basic Pay Housing Allowance
33,500.00 2000.00 2,500.00
Medical Aid Employer Contribution
907.00
4474 4142 4141
nt Levy
411.29 148.72
Fringe
Tax Code 3810
Medical Aid Fringe Benefit Total Fringe Benefits
3628 3,628.50
The mock payslip indicates an estimated calculation of the Net Pay value of the package, subject to final selection of benefits, structuring of package components, and statutory deductions.