what formulas can I use to find pension? when all I know is the hours worked and pay rate and gross pay and A 6.1% deduction is to be made from each employee's gross pay for the first 30 hours of work as pension plan deduction.
for example if:
Hours worked = 45.5
pay rate = 9.39
gross pay = 453.07
pension = 17.18
net pay = 435.89
what formula can I use to find pension and net pay I see an easy way for net pay = gross pay - pension but how do I find the formula for pension???? please help
