Difference between revisions of "Payroll"

From Pandaworks Wiki
Jump to: navigation, search
(FAQ)
(FAQ)
 
Line 8: Line 8:
 
* [[How do I close a payroll cycle?]]
 
* [[How do I close a payroll cycle?]]
 
* [[How do I view payroll approval listing?]]
 
* [[How do I view payroll approval listing?]]
 +
* [[How do I approve/reject a payroll cycle?]]
 
* [[How do I view payroll express entries?]]
 
* [[How do I view payroll express entries?]]
 
* [[How do I create an express entry?]]
 
* [[How do I create an express entry?]]

Latest revision as of 02:22, 7 March 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