Details

Write a java program in Eclipse Indigo that calculates and prints the monthly paycheck for an employee. The net pay is calculated after taking the following deductions:
FEDERAL INCOME TAX: 15%
STATE TAX: 3.5%
SOCIAL SECURITY TAX: 5.75%
MEDICARE/MEDICAID TAX: 2.75%
PENSION PLAN: 5%
HEALTH INSURANCE: $75.00

The program should prompt the user to input the gross amount and the employee name. The output will be stored in a file. Format the output to have two decimal places. A sample output follows:

Bill Robinson
Gross Amount: $ 3575.00
FEDERAL INCOME TAX: $ 536.25
STATE TAX: $ 125.13
SOCIAL SECURITY TAX: $ 205.56
MEDICARE/MEDICAID TAX: $ 98.31
PENSION PLAN: $ 178.75
HEALTH INSURANCE: $ 75.00
NET PAY: $ 2356.00