Gross salary from Net Salary

emajor

New Member
Joined
Jun 10, 2019
Messages
4
Hi
please I need urgent excel help to find the gross salary, given the Net salary in Ghana

Net salary( example)....... 2,723.50
S.S.F............................5.5%
P.F...............................3%

NB: (S.S.F. and P.F. are deducted from the gross salary before arriving at chargeable income, on which Income tax is applied)

Income Tax rates as follows:

MONTHLY INCOME TAX RATES APPLICABLE TO RESIDENT INDIVIDUALS


CHARGEABLE INCOME RATE TAX CUMULATIVE CHARGEABLE INCOME CUMULATIVE TAX
GH₵%GH₵GH₵GH₵
First 288Nil288
Next 100553885
Next 140101452819
Next 3,00017.55253,528544
Next 16,472254,11820,0004,662
Exceeding 20,00030

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SSF and PS are both applied to Gross, so a total of 8.5% is deducted to arrive at chargeable?
 
Upvote 0
Assuming so,

A​
B​
C​
D​
E​
1​
Chargeable
Tax
Net
2​
0.00​
0.00​
0.00​
C2: =A2 - B2
3​
288.00​
0.00​
288.00​
4​
388.00​
5.00​
383.00​
5​
528.00​
14.00​
514.00​
6​
2,528.00​
525.00​
2,003.00​
7​
20,000.00​
4,118.00​
15,882.00​
8​
100,000.00​
28,118.00​
71,882.00​
B8: = B7 + 30% * (A8 - A7)
9​
10​
11​
Net
Gross
12​
2,723.50​
3,754.12​
B12: =PERCENTILE($A$2:$A$8, PERCENTRANK($C$2:$C$8, A12, 8)) / (1 - 5% - 3.5%)
 
Upvote 0
shg, thanks for your assistance, but I think something is amiss could you look at it again, please?

the gross salary for the Net(2,723.50) I gave is actually 3,510.65.

NB: Your question: SSF and PF are both applied to Gross, so a total of 8.5% is deducted to arrive at chargeable?
My answer: exactly so.

thanks shg, standing by to hear from you soonest.
 
Upvote 0
Sorry, misunderstood your numbers:

B​
C​
D​
E​
F​
G​
2​
Chargeable Income
Rate
Total Tax
Net Income
3​
0.00​
0.0%​
0.00​
0.00​
D3: =B3 - C3
4​
288.00​
5.0%​
0.00​
288.00​
D4: =D3 + C3 * (B4 - B3)
5​
388.00​
10.0%​
5.00​
383.00​
6​
528.00​
17.5%​
19.00​
509.00​
7​
3,528.00​
25.0%​
544.00​
2,984.00​
8​
20,000.00​
30.0%​
4,662.00​
15,338.00​
9​
100,000.00​
28,662.00​
71,338.00​
10​
11​
Check
12​
Net
Gross
Net
13​
2,723.50​
3,510.65
2,723.50​
D13: =PERCENTILE($B$3:$B$9, PERCENTRANK($E$3:$E$9, C13, 8)) / (1 - 5% - 3.5%)
14​
^-----​
--- same --------^E13: =PERCENTILE($E$3:$E$9, PERCENTRANK($B$3:$B$9, D13 * (1 - 5% - 3.5%), 8))
 
Upvote 0

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