In order to generate a take home salary of R35000 pm what would the cost to company have to be, assuming medical aid is R5000 pm and the co pays half, and that the company contributes 7% to a provident/pension fund. Thats all the benefits that would be applicable. I am not sure if UIF or workmans comp becomes part of the equation, if they small enough then it can be ignored.
-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: What's the most interesting small town you've visited in South Africa?
A salary calculation please.
- Thread starter Bernie
- Start date
guest2013-1
guest
- Joined
- Aug 22, 2003
- Messages
- 19,800
- Reaction score
- 13
R5000 medical aid? dude, crazy, rather get a hospital plan for serious injuries and save the R4300 a month. That way when you sneeze and need to go to the doctor you can pay cash + get a discount (which saves you quite a bit) and not have to hear from your medical aid that they won't allow you to buy meds because you're over some kind of ****ed up limit.
Kloofvreter
Honorary Master
Pitbull
Verboten
If you company is switching to CTC, RUN and RUN FK'NG FAST !
Everything you use at the company is included in your cost to company, if they say R 60k per month. That includes your coffee, sugar and what not, it's a big bloody scam
Been through it once at another company and will never work CTC again in my life
Everything you use at the company is included in your cost to company, if they say R 60k per month. That includes your coffee, sugar and what not, it's a big bloody scam
Been through it once at another company and will never work CTC again in my life
guest2013-1
guest
- Joined
- Aug 22, 2003
- Messages
- 19,800
- Reaction score
- 13
FYI bernie is probably (again) a shortening of bernadine. So I'll marry her... if she stops the ludricious spend on medical aids
Nerfherder
Honorary Master
My CTC is not like that Pit.... the only mission is to sort out the structure so that you pay the right tax.
I put in a R2000 petrol allowance, R1800 medical aid, and R500 pension.
Saves a lot on tax
I put in a R2000 petrol allowance, R1800 medical aid, and R500 pension.
Saves a lot on tax
Damm ... it's a pity i'm not gay....
thatdamnJoe
Expert Member
- Joined
- Aug 21, 2008
- Messages
- 1,040
- Reaction score
- 23
probably a little bit less
thatdamnJoe
Expert Member
- Joined
- Aug 21, 2008
- Messages
- 1,040
- Reaction score
- 23
If you company is switching to CTC, RUN and RUN FK'NG FAST !
Everything you use at the company is included in your cost to company, if they say R 60k per month. That includes your coffee, sugar and what not, it's a big bloody scam
Been through it once at another company and will never work CTC again in my life
you've been screwed
ctc is supposed to include the costs of benefits(pension, med aid, insurance etc) not things like coffee sugar etc.
Did you help pay the buildings rent too?
thatdamnJoe
Expert Member
- Joined
- Aug 21, 2008
- Messages
- 1,040
- Reaction score
- 23
R66500pm *12 =R798k pa...
OP
It's difficult to answer what sort of ctc will result in R35k takehome pay pm without knowing how the monthly contribution is structured ito car allowance etc. Saying comp pays 7% for pension is equally difficult as some of the elements in your package will not be pensionable income(car allowance for one).
SARS has guide tables on PAYE for yearly income if thats some help.
Excel is your friend
Thanks
Well its for me the wife and 3 chillens. I could probably drop to a lower plan that has the same hospital benefit. Wife used R65000 so far on hospital benefit so will definitely need that.
If you company is switching to CTC, RUN and RUN FK'NG FAST !
Everything you use at the company is included in your cost to company, if they say R 60k per month. That includes your coffee, sugar and what not, it's a big bloody scam
Been through it once at another company and will never work CTC again in my life
No nothing like that. I am actually a contractor and I am going to start a permanent job now.
Uhem!!! erm - no - not one of the female species.
Thank you. There will be no car, cell phone, PC, entertainment or any allowances at all as far as I can tell.
A rough guesstimate will do.
Ou grote
Honorary Master
Based on how my salary gets calculated, I'd say R55 000 pm.
I'm on a car scheme and get a tax break or 2.
Oke...... that sucks....
Hoof-Hearted
Expert Member
If it's ctc he is negotiating then it's best to do so sans all the allowances. That way one can "structure" the package to be tax efficient (or not) later depending on whether it is possible to justify the tax breaks to Sars.
So for example, if you're office bound what's the point of having a car allowance? When you submit tax returns you have to justify the use of your car for business purposes, and that excludes driving to work and back.
Hoof-Hearted
Expert Member
@Bernie
Get the HR dept of the company to give you a detailed breakdown. They should have all the necessary knowledge to do so. Learned my lesson at a previous company not getting detailed breakdown up front.
Around 65k should get you to your figure
Get the HR dept of the company to give you a detailed breakdown. They should have all the necessary knowledge to do so. Learned my lesson at a previous company not getting detailed breakdown up front.
Around 65k should get you to your figure