First, calculate the daily ordinary rate of pay by dividing the monthly salary by 26. Then divide the ordinary rate by the number of normal work hours to get the hourly pay rate. Finally, calculate overtime pay by multiplying the hourly rate by 1.5 and then multiply this figure by the...
To calculate an employee’s salary in an incomplete month, you will need to know the employee’s annual salary and the number of days worked in the preliminary month. Following that, divide their yearly salary by 12 (the number of months in a year) to find their monthly salary. Then, d...
The 50/20/30 rule is a popular guide to divide your taxed, take-home salary after CPF deductions. It is segmented according to 50% needs, 20% savings and 30% wants. How does Kakeibo as a means of budgeting, measure up against the 50/20/30 rule? 1. Kakeibo allows more flexibilit...
In practice, however, banks use income requirements to segment their products, and unless you have significant sources of wealth other than salary, it’s unlikely someone earning S$30,000 a year will be approved for a super premium card. Still, it’s good to know that income requirements ab...
Well then, you have enough paid-up capital to set up a business. All Singapore companies have to issue at least one share and, in most cases, S$1 per share is enough. Paid-up capital can also be in other currencies. You can increase the sum and change the currency any time after ...
When you are retired from your career, there will be no more monthly salary paid to your account. But your wallet still need to pay your daily expenses such as food, transportation, entertainment etc. First you need to calculate how much fund in your wallet in order to sustain your life ...