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To find the social security tax payable for both employees and the employer, we need to calculate them separately.
For the employee:
Multiply the total gross earnings by the social security tax rate: $2,462.00 * 6.2% = $152.44
For the employer:
Multiply the total gross earnings by the social security tax rate: $2,462.00 * 6.2% = $152.44
Therefore, the social security tax payable for both the employee and employer is $152.44 each.