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Calculate statutory deductions as a percentage of gross pay and compare to the prior year to assess the reasonableness of the statutory deductions. Investigate any significant variances.
maam can you help me understand how this process makes sense? I mean if wages this yr are higher due to more no.of employees being recruited then of course the statutory deductions will be more this yr compared to last year, so then how is it even a valid substantive procedure?
That’s why it says PERCENTAGE – so if national insurance/social security contributions are 13.2% of gross pay this year is that reasonable if last year this was 13.6?