How much withholding tax on compensation will Near Eastern University. withhold on the salary of Nicanor for the month of September? (assume there are four weeks) How much withholding tax on compensation will Near Eastern University withhold on the salary of Jack for the month of September?
45. REVISED WITHHOLDING TAX TABLE FOR COMPENSATION
|
DAILY |
1 |
2 |
3 |
4 |
5 |
6 |
|
Compensation Range |
685 and below |
685-1,095 |
1,096-2,191 |
2,192-5,478 |
5,479-21,917 |
21,918 and above |
|
Prescribed Withholding Tax |
0 |
0 + 20% over 685 |
82.19 + 25% over 1,096 |
356.16 + 30% over 2,192 |
1,342.47 + 32% over 5,479 |
6,602.74 + 35% over 21,918 |
|
WEEKLY |
1 |
2 |
3 |
4 |
5 |
6 |
|
Compensation Range |
4,808 and below |
4,808-7691 |
7,692-15,384 |
15,385-38,461 |
38-462-153,845 |
153,846 and above |
|
Prescribed Withholding Tax |
0 |
0 + 20% over 4,808 |
576.92 + 25% over 7,692 |
2,500 +30% over 15,385 |
9,423.08 + 32% over 38,462 |
46,346.15 + 35% over 153,846 |
|
SEMI-MONTHLY |
1 |
2 |
3 |
4 |
5 |
6 |
|
Compensation Range |
10,417 and below |
10,417-16,666 |
16,667-33,332 |
33,333-83,332 |
83,333-333,332 |
333,333 and above |
|
Prescribed Withholding Tax |
0 |
0 + 20% over 10,417 |
1,250 + 25% over 16,667 |
5,416.67 + 30% over 33,333 |
20,416.67 + 32% over 83,333 |
100,416.67 + 35% over 333,333 |
|
MONTHLY |
1 |
2 |
3 |
4 |
5 |
6 |
|
Compensation Range |
20,833 and below |
20,833-33,332 |
33,333-66,666 |
66,667-166,666 |
166,667-666,666 |
666,667 and above |
|
Prescribed Withholding Tax |
0 |
0 + 20% over 20,833 |
2,500 + 25% over 33,333 |
10,833.33 + 30% over 66,667 |
40,833.33 + 32% over 166,667 |
200,833.33 + 35% over 666,667 |
The following are the data given to you by Near Eastern University:
|
Employees Name |
Status |
Compensation |
Frequency of payroll |
|
Rick |
Contractor (Pakyawan/Arawan) |
537 |
Daily |
|
Morgan |
Probationary |
900 |
Daily |
|
Nicanor |
Regular |
20,000 |
Weekly |
|
Jack |
Regular |
45,000 |
Semi-monthly |
|
Wilson |
Regular |
150,000 |
Monthly |
Additional information:
- The company operates 26 working days in the month of September
- The statutory minimum wage rate is P 537 per day as per regional tripartite wage and productivity board
How much withholding tax on compensation will Near Eastern University. withhold on the salary of Nicanor for the month of September? (assume there are four weeks)
How much withholding tax on compensation will Near Eastern University withhold on the salary of Jack for the month of September?
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