Gross salary from Net Salary
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    Default 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

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    MrExcel MVP shg's Avatar
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    Default 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?

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    Default 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%)

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    Default Re: Gross salary from Net Salary

    exactly so

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    MrExcel MVP shg's Avatar
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    Default Re: Gross salary from Net Salary

    You're welcome.

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    Default 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?
    My answer: exactly so.

    thanks shg, standing by to hear from you soonest.

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    MrExcel MVP shg's Avatar
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    Default Re: Gross salary from Net Salary

    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))

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    Default Re: Gross salary from Net Salary

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

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    Default Re: Gross salary from Net Salary

    You're welcome.

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    Default Re: Gross salary from Net Salary

    Cross-posted at: http://www.msofficeforums.com/excel/...et-salary.html
    Please read Mr Excel's policy on Cross-Posting in rule 13: http://www.mrexcel.com/forum/board-a...rum-rules.html
    Cheers
    Paul Edstein
    [MS MVP - Word]

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