The question is related to Payroll Administration and Management.
Where the weekly gross is $10,000 the Net Pay is $ 7,240 while monthly Net Pay is $ 28,960.00.
<h3>
What is Payroll Administration?</h3>
This is defined as the series of task required to organize the compensation an benefits of the employee for the period that they have spent working.
<h3>The solution is given below:</h3>
A) Note that the information given above is for a week. We are not given the gross wage. Hence we'd assume that the gross wage for the week is $10,000.
If gross pay is $10,000, Net Pay is calculated by removing deductions.
Deductions are:
Pension fund = 7.5% of 10,000 = $750
PAYE Tax = 20% of (95% of 10,000) = $1,900 This is because medical aid is non-taxable.
Employee Insurance = 1% of 10,000 = $100
Union Membership = $10
The Total Deduction thus is = 750 + 1,900 + 100 +10 = $2, 760.00
The Net pay = Gross Pay Less Deductibles
= 10,000-7,760
Thus The Net pay = $ 7,240/Week.
His weekly net wage will be:
7,240 * 4 = $28,960.00/Month
B) The kind of remuneration method used by company XYZ is
Time Rate System. Under the time rate system, the worker is paid per hour, per day, per week, or per month.
It is normally used for workers who are engaged on highly skilled jobs or highly skilled services, for example, equipment testing, or inspection of operations, toolmaking, etc.
See the link below for more about payroll administration:
brainly.com/question/15858747
