# Thread: Gross salary from Net Salary Thanks: 0 Likes: 0

1. ## Gross salary from Net Salary

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 288 Nil – 288 – Next 100 5 5 388 5 Next 140 10 14 528 19 Next 3,000 17.5 525 3,528 544 Next 16,472 25 4,118 20,000 4,662 Exceeding 20,000 30

2. ## Re: Gross salary from Net Salary

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

3. ## Re: Gross salary from Net Salary

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%)

exactly so

5. ## Re: Gross salary from Net Salary

You're welcome.

6. ## Re: Gross salary from Net Salary

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?

thanks shg, standing by to hear from you soonest.

7. ## Re: Gross salary from Net Salary

 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))

8. ## Re: Gross salary from Net Salary

Thanks so much shg for helping me out, you're one in a million

9. ## Re: Gross salary from Net Salary

You're welcome.

10. ## Re: Gross salary from Net Salary

Cross-posted at: http://www.msofficeforums.com/excel/...et-salary.html