Question: Mr Rayan’s Salary structure is as follows: Basic salary Tk. 30,000 Provident Fund @ 5% of Basic Annual Increment 10% It is decided by the company that an employee will be entitled with gratuity if he continues his employment for at least 4 years. What will be the gratuity amount if Mr Rayan quits the job after 5 years?

Question: Mr Rayan’s Salary structure is as follows: Basic salary Tk. 30,000 Provident Fund @ 5% of Basic Annual Increment 10% It is decided by the company that an employee will be entitled with gratuity if he continues his employment for at least 4 years. What will be the gratuity amount if Mr Rayan quits the job after 5 years?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter2: Career Planning

Section: Chapter Questions

Problem 3DTM

See similar textbooks

Similar questions

An employee and employer cost-share 401(k) plan contributions, health insurance premium payments, and charitable donations. The employer also provides annual vacation compensation equal to ten days of pay at a rate of $30 per hour, eight-hour work day. The employee makes a gross wage of $3,000 monthly. The employee decides to use five days of vacation during the current pay period. Employees cover 30% of the 401(k) plan contribution and 30% of the health insurance premium. The employee also donates 1% of gross pay to a charitable organization. A. What would be the employees total benefits responsibility if the total 401(k) contribution is $700 and the health insurance premium is $260? B. Include the journal entry representing the payroll benefits accumulation for the employer in the month of March, if the employer matches the employees charitable donation of 1%.
Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.
Next Level Potter wishes to deposit a sum that at 12% interest, compounded semiannually, will permit 2 withdrawals: 40,000 at the end of 4 years and 50,000 at the end of 10 years. Analyze the problem to determine the required deposit, stating the procedure to follow and the tables to use in developing the solution.
Ralphearns $200, 000 per yearat Virtual Reality Solutions LLC,where he has worked for 10years. Virtual Reality Solutionssponsors a defined benefit planequal to 2% per year of service ofthe employees finalcompensation. At the currenttime, what is Ralph's retirementpayable from the defined benefitplan? a. )$40, 000 per year b.)$4, 000 per month or $48, 000 peryear c.)$20, 000 per year d.)$100, 000 per year
show your solution A bonus package pays an employee $1000 at the end of the first semi-annual, $1500 at the end of the second semiannual, and so on, for the first nine years of employment. What is the present worth of the bonus package at 6% per year compounded monthly a.$28,233 b.$47,665 c.$66,480 d.$19,090
Your employer will give you a raise in an annual salary of $10,000 if you pass a Professional Engineering exam. Assume that you can work for the company for n years. Use the discount rate (r) of 8% per year. a. What is PV of the raise for n = 35? b. What is AE of the raise? c. Redo part a for n = ∞.
A bonus package pays an employee $1000 at the end of the first semi-annual, $1500 at the end of the second semiannual, and so on, for the first nine years of employment. What is the present worth of the bonus package at 6% per year compounded monthly A.$66,480 B.$19,090 C.$28,233 D.$47,665
When your firm hires a new employee this year, it is obligated to contribute GBP £5,000 to a defined contribution plan for that employee, one year after the hire date. The contribution must be adjusted annually for inflation. Assume that inflation will be a constant 2.0% a year from this point forward. What is the pension cost to you of hiring a 30 year old who will be with the company for 32 years if the appropriate discount rate is 10%? Round your answer to the nearest pound.
D) A retiree invested P400,000 in a pension plan that earns 15% interest compounded monthly. If pension payments are given every three months, determine the amount of each payment that the retiree will receive for 15 years.
An employee borrows P50,000 for seven months at an interest rate of 12% per year. Find the interest earned and the total amount he has to pay
Subject :- Account After earning an MBA, a student begins working on an $80,000 per year job on 9/1/18. She expects to receive a 5 percent raise each year until she retires on 9/1/48. If the cost of capital (i.e. interest rate she uses to discount future earnings to current dollars) is 8% per year and she is paid monthly, determine the total present value of her before tax earnings. Assume she is paid at the end of each month and each annual raise takes effect on Sept 1 each year. (answer is $1,521,144,67) In Excel functions
To offer scholarships to children of employees, a company invests $9000 at the end of every three months in an annuity that pays 9% compounded quarterly. a. How much will the company have in scholarship funds at the end of ten years? b. Find the interest.