Question

1% social security tax is charged up to the annual income of Rs 350000 to an unmarried individual. If the monthly salary of an individual is Rs 16400 how much social security tax should he pay in a year?

Answer 1

6.2%

The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.

Answer 2

Answer:---

Rs. 372 will be the answer

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