deductions and calculate net pay Evaluate a prepared budget 1.1 Salary and wages Salary 1.1 Salary is a payment for a year’s work which is then divided into equal monthly, fortnightly or weekly payments. People who are paid a salary include teachers and nurses. Advantages • Permanent employment • Superannuation, sick and holiday pay Disadvantages • No overtime for extra work • Hours are fixed Converting salary to weeks, fortnights and months 1 year = 52 weeks Example 1 1 year = 26 fortnights 1…
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