Exer -- 1

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					                                                               Payroll System
Sr No.           Employee Name                  Basic Salary        Conv. Allow    Med. Allow   HRA      Gross Salary   I.Tax(5%)
  1               Aijaz Hussain                            20,000          3,400        2,000    4,000         29,400        1,470
  2                 Asif Munir                             14,500          2,465        1,450    2,900         21,315        1,066
  3              Mubashir Rehman                           28,000          4,760        2,800    5,600         41,160        2,058
  4                Younus Butt                             32,000          5,440        3,200    6,400         47,040        2,352
  5               Kashif Rasool                            12,000          2,040        1,200    2,400         17,640          882




         Calculations:
         Conv. Allow (% of Basic Salary)   17%
         Med. Allow(% of Basic Salary)     10%
         HRA(% of Basic Salary)            20%
         Income Tax(% of Gross Salary)     5%
         Net Salary                        Gross Salary- I.Tax
Net Salary
    27,930
    20,249
    39,102
    44,688
    16,758

				
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