1. TERM REPORT
TERM REPORT: SALARY FUNCTION
SUBMITTED BY: FAHAD SARWAR
MONAZZA
SAIMA SAFDAR
ABDUL HASEEB
SUBMITTED TO: MR. ABDUL WAHAB KHAN.
COMPANY: W. WOODWARDS PAKSITAN.
CONTENT
INTRODUCTION
PRODUCT
COMPANY PROFILE
WHAT IS FUNCTION?
WHAT IS RANGE AND DOMAIN?
SALARY FUNCTION.
EQAUTION.
SALARIES OF ACCOUNT OFFICER, SALES MANAGER and GENERAL MANAGER.
TAX 2015-2016
NET SALARIES OF ACCOUNT OFFICER, SALES MANAGER and GENERAL MANAGER.

2. TERM REPORT
Woodward was founded in 1852
in England by William
Woodward.
Woodward started in Pakistan
in 1956 from Karachi.
The field force of Woodward
covers the whole Pakistan &
Kashmir also but the
main revenue is generated
from Punjab areas.
W.Woodward Pakistan (Private) Ltd. has been engaged in manufacturing of renown
Woodward's Gripe Water and other quality medicines. Today the company is
recognized as the leading name not only in child health care but, all we promise is
health care at any stage for any age since some new rational formulations for adults &
geriatrics have now made it possible to serve the entire ailing humanity. The company
has wide products range comprising syrups, suspensions, drops, solutions, tablets,
capsules etc.
Besides Gripe Water, another product Cal wood - C, Calcium plus Vitamin C powder, is
very popular as it effectively regulates the body metabolism by supplement calcium
deficiency conditions. Moreover, vitamin C added to this formulation enhances iron
absorption.
Similarly another product suspension in mulberry apricot flavor is highly effective in
symptoms of flu & cold.
W. Woodward is well known as Diarrhoea Specialist to stop the running tummy by
marketing its outstanding anti-diarrhoeal preparations like Kaopulgite & Kaoplex
Suspension. In addition to this, oral rehydration therapies that include Woodward O.R.S.
and PaediCare Solution are manufactured.
Producing pharmaceuticals strictly in accordance with CGMP and maintaining world
class standards have become the hallmark of Woodward not only in Pakistan but
internationally as well. W. Woodward Pakistan now active in exports and its products

3. TERM REPORT
are well known in Sri Lanka, Gulf and Middle East countries.
Equipped with the latest technology in producing pharmaceuticals, state-of-art
production plant and highly sophisticated electronic equipments ensure quality control.
Woodward is now capable of fulfilling both local and international demands because of
its vast production capacity.
The company has also been active in the cause of family planning by packing and
marketing the world's leading brand- Durex (contraceptive) condoms and its range.
Under a dynamic management and motivated human resource, W. Woodward has its
eyes all set on the vision of creating an even broader health sector with accessible and
life saving products.
Main head office of
Woodward
Head Office:
Abdullah Square, 43/1/H, Block-6,
Main Razi Road,
P.E.C.H.S. Karachi-75400, Pakistan
WHAT IS FUNCTION?
• The significant relationships typically are represented by functions.
• One variable can be viewed as INPUT and the other as OUTPUT.

4. TERM REPORT
• For example consider y=3x+5
• Where x is an INPUT variable, after putting any value for x the OUTPUT variable
y will have a new value.
• y = 3 x + 5
• Put x = 3, 6 and 7 simultaneously.
• We will get different values as below:
• If x= 3 the output value would be y= 14
• If x= 6 the output value would be y= 23
• If x= 7 the output value would be y= 26
WHAT IS DOMAIN?
Domain: The domain of a function is the set consisting of all possible input values.
In mathematics, and more specifically in naive set theory, the domain of definition (or
simply the domain) of a function is the set of "input" or argument values for which the
function is defined. That is, the function provides an "output" or value for each member
of the domain.[1]Conversely, the set of values the function takes on as output is termed
the image of the function, which is sometimes also referred to as the range of the
function.
WHAT IS RANGE?
Range: The range of a function is the set of all possible output values.
In mathematics, and more specifically in naive set theory, the range of a function refers
to either the co domain or the image of the function, depending upon usage. Modern
usage almost always uses range to mean image.
The co domain of a function is some arbitrary set. In real analysis, it is the real numbers.
In complex analysis, it is the complex numbers.
The image of a function is the set of all outputs of the function. The image is always a
subset of the co domain.

5. TERM REPORT
• By considering x as domain and y as
range.
• Y=f(x)
• Which means the value of “y” is
dependant upon the value of “x”.
• According to the above situation we can
say that the “x” is the INDEPENDENT
VRIABLE and “y” is the DEPENDENT
VARIABLE.
SALARY FUNCTION
• Consider “y” as the monthly salary in PKR
• x = 0.2 % of net profit of total monthly sale of the company, where 0.2 % is the
profit for any given month.
• Now the salary can be represented by the equation
• y = f(x)
• i.e. y = x + c
• y = x + c
• Suppose the salary function would be
• y = f(x) = 0.2% (x) + 35000-------------(1)
• Where PKR 35,000/= is a constant value in the shape of basic salary.
• Suppose TOTAL PROFIT = PKR 1 MILLIONS

6. TERM REPORT
• 0.2% of the total profit would be
• = 1,000,000 X 0.2 % = PKR 2,000/= only.
• y = f(x) = 0.2% (x) + 35000--------------(1)
• Therefore Equation 1 would be
• y = f(x) = 0.2% * (x) + 35000
• y = f(x) = 0.2% * (1,000,000) + 35000
• y = f(x) = 2000 + 35000
• y = Final Salary = PKR 37,000/= only.
MONTHLY SALARY WITHOUT TAX
• Account Officer ------------ ( A )
• Sales Manager ------------ ( B )
• General Manager -------- ( C )
MONTHLY SALARY OF ACCOUNT OFFICER
• Basic salary = PKR 10,000/=
• House allowance 45 % of basic salary.
• Car Allowance 10 % of basic salary.
• As we know y = f (x)
• Therefore y = x + c
• where c is a constant
• y = BS + 45 % BS + 10% BS
• y = 10,000 + 45 % * (10000) + 10 % * (10000)
• y = 10,000 + 4500 + 1000
• Gross salary = PKR 15,500/= only -----------(A)

7. TERM REPORT
MONTHLY SALARY OF SALES MANAGER.
• Basic salary = PKR 25,000/=
• House allowance 45 % of basic salary.
• Car Allowance 10 % of basic salary.
• He will also get a bonus of PKR 50/= only on every sale beyond 1000 cartons of
said product.
• As we know y = f (x), therefore
• y = BS + 45 % * BS + 10% * BS + 50 * (n-1000)
• Where n is the numbers of product he managed to sale in the said month.
• Suppose this month’s sale was 1350 cartons.
• y = 25,000 + 45 % * (25,000) + 10 % * (25,000) + 50 * (1350-1000)
• y = 25,000 + 11250 + 2500 + 50 * (350)
• Gross salary = PKR 56,250/=only-----------(B)
MONTHLY SALARY OF GENERAL MANAGER.
• Basic salary = PKR 200,000/= only
• House allowance + Car Allowance + Medical Allowance =
50,000/month.
• 5 % of monthly profit of company for the said month.
• Suppose the monthly profit of the company is PKR 2.5 million for the said month.
• As we know y = f (x), therefore
• y = BS + allowances + 5 % * (2500000)
• y = 2,00,000 + 50,000 + 1,25,000
• Gross salary = PKR 3,75,000= only -----------(C)

8. TERM REPORT
ANNUAL SALARY WITHOUT TAX

9. TERM REPORT
TAX 2015-2016 FBR
S.NO TABLE OF INCOME RATE OF TAX
01 Where taxable income does not exceed
Rs. 400,000.
0 %
02 Where taxable income exceeds Rs.400,000
but does not exceed Rs. 500,000.
2 % of the amount exceeding Rs. 400,000.
03 Where taxable income exceeds Rs.500,000
but does not exceed Rs. 750,000.
Rs. 2000 + 5 % of the amount exceeding Rs.
500,000.
04 Where taxable income exceeds Rs.750,000
but does not exceed Rs. 1,400,000.
Rs. 14,500 + 10 % of the amount exceeding
Rs. 750,000.
05 Where taxable income exceeds
Rs.1,400,000 but does not exceed Rs.
1,500,000.
Rs. 79,500 + 12.5 % of the amount
exceeding Rs. 1,400,000.
06 Where taxable income exceeds
Rs.1,500,000 but does not exceed Rs.
1,800,000.
Rs. 92,000 + 15 % of the amount exceeding
Rs. 1,500,000.
07 Where taxable income exceeds
Rs.1,800,000 but does not exceed Rs.
2,500,000.
Rs. 137,000 + 17.5 % of the amount
exceeding Rs. 1,800,000.
08 Where taxable income exceeds
Rs.2,500,000 but does not exceed Rs.
3,000,000.
Rs. 259,500 + 20 % of the amount
exceeding Rs. 2,500,000.
09 Where taxable income exceeds
Rs.3,000,000 but does not exceed Rs.
3,500,000.
Rs. 359,000 + 22.5 % of the amount
exceeding Rs. 3,000,000.
10 Where taxable income exceeds
Rs.3.000,000 but does not exceed Rs.
4,000,000.
Rs. 472,000 + 25 % of the amount
exceeding Rs. 3,500,000.
11 Where taxable income exceeds
Rs.4,000,000 but does not exceed Rs.
7,000,000.
Rs. 597,000 + 27.5 % of the amount
exceeding Rs. 7,000,000.
12 Where taxable income exceeds
Rs.7000,000.
Rs. 1,422,000 + 30 % of the amount
exceeding Rs. 7,000,000.

10. TERM REPORT
• According to the salary table A,B and C are getting annual gross salary as shown
below:
• “A” is getting PKR 2, 46,000/= only (per year).
• “B” is getting PKR 6, 08,750/= only (per year).
• “C” is getting PKR 41, 85,000/= only (per year).
NET SALARY OF ACCOUNT OFFICER.
• Where taxable income does not exceed Rs. 400,000 the tax would be 0, for “A”.
• “A” is getting PKR 2, 46,000/= only (per annum).
• Therefore no tax will be applied on Account Officer.
• Net salary = PKR 2, 46,000/= only.
NET SALARY OF SALES MANAGER.
• Where taxable income exceeds Rs.500,000 but does not exceed Rs. 750,000 the
Tax equation would be Rs. 2000 + 5 % of the amount exceeding Rs. 500,000 for
“B”.
• “B” is getting PKR 6,08,750/= only (per annum).
• Therefore the equation for tax would be
2000 + 5% * (608750-500000).
• 2000 + 5% * (108750)
• Annual Tax = 2000 + 5437 = PKR 7437/=
• Net Salary = Gross Salary - Annual Tax
• Net Salary = 608750 – 7437
• Net Salary PKR 601,313/= only.

11. TERM REPORT
NET SALARY OF GENERAL MANAGER.
• Where taxable income exceeds Rs.4, 000,000 but does not exceed Rs.
7,000,000. Rs. 597,000 + 27.5 % of the amount exceeding Rs. 7,000,000 for “C”.
• “C” is getting PKR 41, 85,000/= only (per year).
• Therefore the equation for tax would be
597,000 + 5% * (0) as amount doesn’t exceed 7,000,000.
• Final Tax amount = 597,000/= only
• Net Salary = Gross Salary - Annual Tax
• Net salary = 41,85,000 – 597,000 =
• Net Salary PKR 3588000/= only.