Prof Tagoe will receive a Basic Salary of Gh¢15,000.00 per month. He is entitled to a honorarium of Gh¢2,500.00 and a monthly research allowance of Gh¢1,000.00. He contributes 5.5% of his basic salary to SSNIT and 2% of his basic salary to Provident fund. It is assumed that he pays an amount of GH¢2,000.00 as his monthly income tax.

Prof Adomaku will receive a Basic Salary of Gh¢14,000.00 per month. He is entitled to a monthly responsibility allowance of GH¢3,000.00. He contributes 5.5% of his basic salary to SSNIT and 2% of his basic salary to Provident fund. He has requested that an amount of GH¢1,000.00 should be paid into his M-Fund account at Databank. It is assumed that he pays an amount of GH¢1,500.00 as his monthly income tax.

The employer contributes 13% of the staff basic salaries to SSNIT.
i.Compute the Monthly net salary of Prof Tagoe.
ii.Compute the monthly net salary of Prof Aidoo.

Answer rating: 100% (QA)

i Monthly net salary of Prof Tagoe Basic Salary Gh1500000 Honorarium Gh250000 Research Allowance Gh1... View the full answer