A worker is paid $10,000 per month and a dearness allowance of $2,000 p.m. Worker Contribution to provident fund is @ 10% and employer also contributes the same Amount as the employee. The Employees State Insurance Corporation premium is 6.5% Of wages of which 1.75% is paid by the employees. It is the firm's practice to pay 2 Months' wages as bonus each year.

A worker is paid $10,000 per month and a dearness allowance of $2,000 p.m. Worker Contribution to provident fund is @ 10% and employer also contributes the same Amount as the employee. The Employees State Insurance Corporation premium is 6.5% Of wages of which 1.75% is paid by the employees. It is the firm's practice to pay 2 Months' wages as bonus each year.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 32E

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