The calculation and inquiry of the amount of housing provident fund loan can be done in several ways. Generally, the loan amount is determined based on factors such as the borrower's income, the value of the property being purchased, and the balance of their housing provident fund account. ...
Readily available reports make it easier for employers to pay their taxes and handle employees' statutory component deductions including Provident Fund (PF), Labour Welfare Fund (LWF), Professional Tax (PT), Employee State Insurance (ESI), and Tax Deduction at Source (TDS) based on their pay ...
2500 pre tax, personal pay four gold Pension =2500*8%, Medical insurance =2500*2%, =2500*1% unemployment insurance, Housing provident fund =2500*7% According to the above four: Total: 450 yuan 2. the collection of personal income tax Monthly taxable income = (wages - four) - 2000 = (...
profession or business in Hong Kong are chargeable to Profits Tax on all arising in or derived from Hong Kong from such trade, profession or business. If the company has another subsidiary or connected entity with more than 50% of the equity, the two-tiered profits tax rates would...
provident fund, minus the cost of the deduction of 1600 yuan / month (from overseas income and foreign nationals, overseas Chinese and Hongkong, Macao and Taiwan compatriots in China the monthly income can be added within the less the cost of 3200 ...
implementation of the rules The above information is from the Shanghai Municipal Personnel Bureau official website, while referring to the Shanghai municipal human resources and Social Security Bureau, Shanghai housing provident fund network official website. ...
The Mandatory Provident Fund was formally implemented in December 2000, which is a mandatory saving retirement protection system to ensure that the majority of Hong Kong people save for the future. With the exception of a few groups of people, when an employee’s salary meets the ...
Full and final settlement is the process of paying all of the balances due to a departing employee. It includes the employee's unpaid salary, leave encashment amount, bonuses, gratuity, provident fund contributions, and deductions. The payroll team should get clearances from the HR, admin, and...
1. Gross Pay:Gross salary is the total of all the components of the salary package offered to an employee. It is the salary before any mandatory and voluntary deductions such as income tax, provident fund, medical insurance, etc. 2. Net Pay:After calculating gross pay, you must make govt...
3. The final part of CTC is the compulsory deductions. These deductibles are Provident Fund,Professional Tax(depending on the state where the organisation is located), and Income Tax (depending on employee’s tax bracket). So, the total salary will now be: ...