funkystanl:


You have a grace period up to two weeks before your resumption. But I'll advice you send them a mail if you are not picking it up within the next 2 months.

That means those resuming in august have to pick up their letters latest next week.


*****and I am the one who opened page 100

Pls can someone help me with directions to PWC from obalende? I usually go with brt from ketu but I think I've been spending more so I want to go through obalende. Thanks

Page 100

Sh*t.

funkystanl:

You have a grace period up to two weeks before your resumption. But I'll advice you send them a mail if you are not picking it up within the next 2 months.

adeaks:


That means those resuming in august have to pick up their letters latest next week

crustypearl:
Pls can someone help me with directions to PWC from obalende? I usually go with brt from ketu but I think I've been spending more so I want to go through obalende. Thanks

you'll see keke napep going to eko hotel roundabout, from which you can take a leisurely stroll to your new place of employment

j

sassydust:
you'll see keke napep going to eko hotel roundabout, from which you can take a leisurely stroll to your new place of employment

Thanks

adeaks:


That means those resuming in august have to pick up their letters latest next week.


*****and I am the one who opened page 100

Not really. but advisable. So they can get fully prepped for you guys. you wont want them calling to ask you if you are coming to accept the offer...

Offer Signed and Collected.

ControlX:
Offer Signed and Collected.

bros re enatch dat ur journey wey u waka VI . hola me at walter carrington

Seems dey ve sent anoda set of confirmation mails

As I don collect my offer Na Godwin. I hail una "Best & Brightest".

faith2ogesco:
Seems dey ve sent anoda set of success mails

marqueetim:
As I don collect my offer Na Godwin. I hail una "Best & Brightest".

c dis dude o, make I no start to talk ur story o

Lol. Which story?

faith2ogesco:
c dis dude o, make I no start to talk ur story o

Pls can anyone ask if the offer letter can be scanned to one's mail?

ednut1:
bros re enatch dat ur journey wey u waka VI . hola me at walter carrington

Sure broh... i go still shoot go island before resumption.

ujojs:
Pls can anyone ask if the offer letter can be scanned to one's mail?

I dont think so, lady. You have to collect the offer physically at the Head Office. You will be given two copies- one for you and the other for HR and will be required to review the offer and sign in acceptance either immediately or two weeks max. I signed mine immediately, about the same time as incredibledude, and took off. Didnt take more than 20 minutes. Cheers!

Hope say all these millions in this salary paper go enter my account.

No worry, the accountants are coming to break it down in 3,2,1..

MacMaster01:
Hope say all these millions in this salary paper go enter my account.

MacMaster01:
Hope say all these millions in this salary paper go enter my account.

pensions, personal income tax and other bloody deductions loading wud soon turn it to chicken change

ednut1:
pensions, personal income tax and other bloody deductions loading wud soon turn it to chicken change

Waiting for the Accountants CC: TheRealAdonye

Cc Ednut1
ControlX

One for the Chartered folks,
The other for the non-Chartered.




On second thought, just the non-Chartered Abeg..
The Chartered can do theirs themselves..

juicebox:


Waiting for the Accountants CC: TheRealAdonye

Hmmmm.... Salary things. Every employee wants to know his/her take home at the end of the month... Let me try do justice to this... So you guys can have a fair idea of your monthly take home.

I am sure on your offer letter you all have 3 items... Basic salary, housing allowance(or rent), and transport allowance. Sum them up to and call the sum your annual gross.

If the gross is not up to 300k. Just reduce d gross by 1%, divide by 12 and that's your monthly take home. I'm sure nobody falls into this category cos pay you well in PwC.... Lolz.

TheRealAdonye:
No worry, the accountants are coming to break it down in 3,2,1..

lol abeg they should break it down with their church mind

funkystanl:
Hmmmm.... Salary things. Every employee wants to know his/her take home at the end of the month... Let me try do justice to this... So you guys can have a fair idea of your monthly take home.

I am sure on your offer letter you all have 3 items... Basic salary, housing allowance(or rent), and transport allowance. Sum them up to and call the sum your annual gross.

If the gross is not up to 300k. Just reduce d gross by 1%, divide by 12 and that's your monthly take home. I'm sure nobody falls into this category cos pay you well in PwC.... Lolz.

When it is more than 300k how many percent should we reduce it by??

Ok if your gross is more than 300k (and I want to believe so):

From your gross take away
1. 20% of gross as personal allowance.
2. Higher of 1% of gross or 200k as consolidated relief allowance.
3. 2.5% of basic as NHF (National housing fund contribution)
4. 8% of gross (Basic housing n transport) as pension contribution.

After taking these items away from gross you have your taxable income.

For those that don't want to go thru the stress just apply 19.2% on your taxable income to have your tax. But this wont give you the closer estimate as I don't want to believe your effective tax rate (ETR) will get to that band.

So for the "stubborn" ones that truly want to have a closer estimate of their take home pay. Lets do this. You know we operate the Pay As You Earn (PAYE) personal income tax in Nigeria. So on your "taxable income" {pls not gross} calculate

First 300k @7%
Next 300k @11%
Next 500k @15%
Next 500k @19%
Next 1.6m @21%
Above 3.2m @24% (i dont want to believe any one of you will currently get to this band) .

Sum up what you have as tax payable.

Now add up the NHF, pension, and PAYE to have the total deductions. Subtract total deductions from your gross and you have your net income.

Divide the net income by 12 and you have a closer estimate to your monthly take home pay.

I hope I have not done a good job in confusing most of you... If yes I'll try use a hypothetical case study later.

funkystanl:
Ok if your gross is more than 300k (and I want to believe so):

From your gross take away
1. 20% of gross as personal allowance.
2. Higher of 1% of gross or 200k as consolidated relief allowance.
3. 2.5% of basic as NHF (National housing fund contribution)
4. 8% of gross (Basic housing n transport) as pension contribution.

After taking these items away from gross you have your taxable income.

For those that don't want to go thru the stress just apply 19.2% on your taxable income to have your tax. But this wont give you the closer estimate as I don't want to believe your effective tax rate (ETR) will get to that band.

So for the "stubborn" ones that truly want to have a closer estimate of their take home pay. Lets do this. You know we operate the Pay As You Earn (PAYE) personal income tax in Nigeria. So on your "taxable income" {pls not gross} calculate

First 300k @7%
Next 300k @11%
Next 500k @15%
Next 500k @19%
Next 1.6m @21%
Above 3.2m @24% (i dont want to believe any one of you will currently get to this band) .

Sum up what you have as tax payable.

Now add up the NHF, pension, and PAYE to have the total deductions. Subtract total deductions from your gross and you have your net income.

Divide the net income by 12 and you have a closer estimate to your monthly take home pay.

I hope I have not done a good job in confusing most of you... If yes I'll try use a hypothetical case study later.

some pple here be lik wetin be all dis grammar o lmao. best they wait till dey gt alert. before person head blow

funkystanl Please is it true that that after the probationary period, the pay will be increased?

Going to pick up my letter later in the day, If you're at Muri Okunola already tell them that 30watts is coming. They should prepare coffee, Pizza (not RichTea biscuit) For him.

The Eagle is coming. .. I repeat the Lion is coming

ednut1:
some pple here be lik wetin be all dis grammar o lmao. best they wait till dey gt alert. before person head blow

Ok...i'm using ednut1 as my hypothetical case.

ednut1:
some pple here be lik wetin be all dis grammar o lmao. best they wait till dey gt alert. before person head blow

Ok...i'm using ednut1 as my hypothetical case. Mr Ednut works for TheRealAdonye n Co. In his offer letter he's to earn:
Basic Salary (B): 700,000
Housing Allowance (H): 200,000
Transport Allowance (T): 100,000

Calculate his monthly take home pay!

Annual Gross = B + H + T
Annual Gross = (700 + 200 + 100)k = 1million

NHF contribution = 2.5% * Basic = 17,500
Pension contribution = 8% (B+H+T) = 80,000
Personal allowance = 20% * Gross = 200,000
CRA = Higher of 200k or 1% of gross = 200,000

Taxable Income = Gross - (NHF+Pension+PA+CRA)
Taxable Income = 1,000,000 -(17,500+80000+200,000+200,000) = 502,500. This is the amount to be taxed not your gross.
19.2% of this amount is 96,480. But this ain't the true tax. Let's see how close it is to the true tax.

Since we use PAYE
First 300k (out of the taxable income of 502500) will be taxed at 7% i.e 7%*300,000 = 21,000
Next 300k will be taxed at 11% (please not that what is left fromm the taxable income is just 202,500. So we are taxing what is left and not 300k) i.e 11%*202500 = 22,275

What is left? Nothing so there is no 500k to be taxed at 15% hence Mr Edut tax bad stops at 11%

The PAYE tax is 21000+22275 =43,275

Can you compare with the 96,480 when we just applied (19.2% on the taxable income? This showed that Mr Ednut Effective Tax rate (ETR) is about 8.6%.


Back on track. Mr Ednut total deductions is:

NHF + Pension + Tax = 140,775.

Net income = Gross - Total deductions = 859,225

Monthly take home = Net income divide by 12 = 71,602.08.

marqueetim:
funkystanl Please is it true that that after the probationary period, the pay will be increased?

After your confirmation (6months I think) you are expected to be moved 1 level up. And of course that leads to increase in pay...