pension contribution
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hi,,
a little help needed here.
if an employee decides to make a pension contribution of 5% of his salary and his gross salary is £5000 per month,
if i had to make a deduction for May for example am i right in calculating 5% of £5000 and then make the appropriate deduction?
or do i work out 12 multiplied £5000 then calculate 5% and divide by 12 or am i confusing matters!!!
cheers
rob
a little help needed here.
if an employee decides to make a pension contribution of 5% of his salary and his gross salary is £5000 per month,
if i had to make a deduction for May for example am i right in calculating 5% of £5000 and then make the appropriate deduction?
or do i work out 12 multiplied £5000 then calculate 5% and divide by 12 or am i confusing matters!!!
cheers
rob
0
Comments
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Re:pension contribution
Rob
Either you haven't worded your question as you really meant it or your working to hard!
Both methods give you the same result of £250
Gill0 -
Re:pension contribution
hi.
yep i realise im reading too much into deductions when its quite straightforward really.
both give the same answer having brain droughts i think.
cheers0