Payroll Unit 3 - Payroll Monthly

Calculating the monthly payroll is based upon the number of Mondays in the month. For example, if a month has 4 Mondays, it is considered 4 weeks and if a month has 5 Mondays, it is considered 5 weeks. This is very important to note when you are doing monthly payroll because the weekly NIS rate and H/S (Health Surcharge) rate has to be multiple by the amount of weeks in the month

Below is an example of a payroll that has 4 Mondays. You can check by using a calendar.

HOW JANET’S NIS WAS CALCULATED

1. Go to 3rd column in the NIS rate sheet

Click the bottom below access the latest rate sheet.

2. In the Monthly Earning Column, look for where 2900.00 range falls.

3. Move across to Employee's NIS rate.

4. 30.10 x 4 weeks = 120.40

HOW JANET’S HEALTH SURCHARGE (H/S) WAS CALCULATED

8.25 (this figure never changes) x 4 weeks = 33.00

Others - $200.00 to be added to the Gross Salary

ASSIGNMENT

1. Complete the Payroll for the individuals below (materials to complete assignment).

Assignment should be submitted to actira.tt@gmail.com.

• SHOULD YOU HAVE ANY DIFFICULTIES, PLEASE DO NOT HESITATE TO CONTACT US via email

MATERIAL TO COMPLETE ASSIGNMENT

Payroll (Monthly)