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Cost to company (CTC) is a term for the total salary package of an employee, used in countries such as India and South Africa. It indicates the total amount of expenses a company (organisation) spends on an employee during one year. It is calculated by adding salary to the cost of all additional benefits an employee receives during the service ...
In employer contribution of 12%, 8.33% transfer to EPS (Employee Pension Scheme) and 3.67% transfer to EPF (Employee Provident Fund). Over and above, employer has to bear 0.50% as administrative charges on EPF and 0.50% as EDLI (employer’s Deposit linked Insurance) Charges.
Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This ...
The Social Security Fairness Act (SSFA), which was recently signed into law on Jan. 5, by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income ...
Corporations and organisations are permitted to select any date as the end of each fiscal year, as long as this date remains constant. However, new companies should consciously choose their financial year end to stretch as much as a duration of 12 months as possible.
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund.
The company moves its headquarters from Dulles, Va. to Manhattan. 2009 : Tim Armstrong joins as CEO and becomes responsible for much of the rebranding and growth. 2010 : Time Warner cut ties with AOL.
In 2009, the total deferral amount, including employee contribution plus employer contribution, was limited to $49,000 or 100% of compensation, whichever is less. The employee-only limit in 2009 was $16,500 with a $5,500 catch-up. These numbers usually increase each year and are indexed to compensate for the effects of inflation.