Peter Chibwe works at Company XYZ. The following information relates to his performance at work for a single week Deductions are as follows:Pension fund is 7.5% of the normal wage PAYE is 20% of the taxable income on gross wages employment Insurance Fund is 1% of the normal wage and is tax deductible Medical aid is 5% of the normal wageK10.00 per week for union membershipREQUIRED:Calculate the monthly net wage for Peter Chibwe showing all the detailed calculations (7 marks)Prepare a payslip for Peter Chibwe for the month of February 2022 (7 marks)Discuss fully the remuneration method(s) used by Company XYZ. (6 marks) (Total: 20 MarksPeter Chibwe works at Company XYZ. The following information relates to his performance at work for a single weekDeductions are as follows:Pension fund is 7.5% of the normal wagePAYE is 20% of the taxable income on gross wageUnemployment Insurance Fund is 1% of the normal wage and is tax deductibleMedical aid is 5% of the normal wageK10.00 per week for union membershipREQUIRED:Calculate the monthly net wage for Peter Chibwe showing all the detailed calculations (7 marks)Prepare a payslip for Peter Chibwe for the month of February 2022 (7 marks)Discuss fully the remuneration method(s) used by Company XYZ. (6 marks) (Total: 20 MarksPeter Chibwe works at Company XYZ. The following information relates to his performance at work for a single weekDeductions are as follows:Pension fund is 7.5% of the normal wagePAYE is 20% of the taxable income on gross wageUnemployment Insurance Fund is 1% of the normal wage and is tax deductibleMedical aid is 5% of the normal wageK10.00 per week for union membershipREQUIRED:Calculate the monthly net wage for Peter Chibwe showing all the detailed calculations (7 marks)Prepare a payslip for Peter Chibwe for the month of February 2022 (7 marks)Discuss fully the remuneration method(s) used by Company XYZ. (6 marks) (Total: 20 Marks