Difference between revisions of "Payroll"

From Pandaworks Wiki
Jump to: navigation, search
(Notes)
Line 21: Line 21:
  
 
== Notes ==
 
== Notes ==
 +
Please look at the scenario below:
 +
 +
Basic salary RM5000
 +
 +
Bonus RM5000
 +
 +
 +
Total Wages = RM10000
 +
 +
=== Bonus is ticked "EPF include into Capping" ===
 +
Month End Cycle:
 +
 +
EPF Employer = RM5000*13% = RM650
 +
 +
Bonus Cycle:
 +
 +
EPF Employer = (RM10000*12%) - RM650 = RM1200 - RM650 = RM550
 +
 +
=== Bonus is unticked "EPF include into Capping" ===
 +
Month End Cycle:
 +
 +
EPF Employer = RM5000*13% = RM650
 +
 +
Bonus Cycle:
 +
 +
EPF Employer = (RM10000*13%) - RM650 = RM1300 - RM650 = RM650
 +
 +
 +
Note: Where the employer pays bonus to an employee who receives monthly wages of RM5,000.00  and  below,  and  upon  receiving  the  said  bonus  renders  the  wages received for that month to exceed RM5,000.00, the employer’s contribution shall be calculated at the  rate  of  13%  of  the  amount  of  wages  for  the  month.  The  total  contribution  which includes cents shall be rounded to the next ringgit

Revision as of 03:14, 12 January 2019

FAQ

Notes

Please look at the scenario below:

Basic salary RM5000

Bonus RM5000


Total Wages = RM10000

Bonus is ticked "EPF include into Capping"

Month End Cycle:

EPF Employer = RM5000*13% = RM650

Bonus Cycle:

EPF Employer = (RM10000*12%) - RM650 = RM1200 - RM650 = RM550

Bonus is unticked "EPF include into Capping"

Month End Cycle:

EPF Employer = RM5000*13% = RM650

Bonus Cycle:

EPF Employer = (RM10000*13%) - RM650 = RM1300 - RM650 = RM650


Note: Where the employer pays bonus to an employee who receives monthly wages of RM5,000.00 and below, and upon receiving the said bonus renders the wages received for that month to exceed RM5,000.00, the employer’s contribution shall be calculated at the rate of 13% of the amount of wages for the month. The total contribution which includes cents shall be rounded to the next ringgit