sanity27:

After my last post, i found out somethings that helped in calculating the percentage tax deduction and the eventual take home.I hope it will help eradicate any headache and curiosity.

In d new PITA, all reliefs and allowances are termed 'Consolidated Relief Allowance'(CRA), which is 20% of gross(total guaranteed cash income,in our case) plus 200k. 410,856.4 + 200K = 610,856.4
i.e 20% 0f 2,054,282 + 200k = 610,856.4

Exemptions are;

Pension(7.5% of Basic+Housing+Transport)= 101,753.77
National Housing Fund(NHF)= 2.5% of Basic= 29,667.9


Tax free income=CRA+NHF+Pension
i.e 610,856.4+29,667.9+101,753.77= 742,278.07

Hence, Taxable income = total guaranteed cash income less tax free income
i.e 2,054,282-742,278.07= 1,312,003

Applying the PAYE graduated scale applicable to employee resident in lagos state, we have;
1st 300k 5% which is 15,000
Next 300k 10% which is 30,000
Next 500k 15% which is 75,000
Bal 212,003 20% which is 42,400.6

Total annual tax equals 15,000+30,000+75,000+42,400.6= 162,400.6
Monthly tax payment equals 13,533.38

Conclusively, since the 13th month pay and leave bonus will not b paid monthly but yearly, total monthly pay will be;

2,054,282-annual tax-(118,672+98,893 i.e leave n 13th month)= 1,674,316.4 den divide dis by 12 to get the monthly pay = 139,529.



End of story!!!!!!!!!!!

Nice analysis but I doubt if the NHF is still part of tax relief since you already have 7.5% of housing, basic and transport. Moreover the new PITA rate are 7%, 11%, 15%, 19%, 21% and 24%.

Okay.

koladecollins:

Nice analysis but I doubt if the NHF is still part of tax relief since you already have 7.5% of housing, basic and transport. Moreover the new PITA rate are 7%, 11%, 15%, 19%, 21% and 24%.
Also, 7.5% of basic, housing and transport is 101834.
Clothing, leave nd d incentive are lump sum payment while others are usually prorated

Kolade,NHF is stil part of tax relief,having gone tru d PITA amendments 2011,gazetted Jan 2012.

The 7.5% of B+H+T accounts 4 d employee's 7.5% contribution to pension funds as contained in ur offer letter(terms of employment;pension scheme).Check d ofa leta 4 clarificatn,u wil find out dat under other benefit provided by employer,value 4 pension plan(101,754) is d same as wat I got 4 pension,which is kpmg's contributn as earlier stated in d letter.

As regards d new graduated tax band,tank u 4 ur correction.It was an oversight on my part.Applying d new band of 7%,11%,15%,19% & 24% to our compensation,d take home becomes #138,953.Very slight difference,u would agree.

Worthy of note,howeva is d fact dat dis calculatn might nt b 100% perfect,we can only wait to start collecting d accurate amount.Dis is just to give us a clue of d expected!
Thanks 4 ur valued contribution.

maestrob:


yes you can reschedule it

send sms to that effect to their e-mail or the kpmg HR phone nos

Ok. Thks dear

[quote author=koladecollins]

Yes you can, but you put yourself in the risk of waiting till next year's recruitment[/quote

Aiit dear, thks. Is age d risk u talk of? If I'm a year older by then will they bounce me? Do they acutally verify d birth certificate before d aptitude test. Pls reply. Thks.

[quote author=Chy-d-girl][/quote]


Sanity27, phonon and KoladeCollins, 10x a bunch.
Chy-d-girl, I don't know hw old u r, but I think what Kolade is tryin 2 say is dat kpmg academy for newbies starts september 9. There r 4stages in d recruitment process this year(excluding medicals). U hve just 2 wks or maybe 3wks for d entire recruitment process n medicals, if u make it and if ur to meet up wit d rest of us. If in d meantime other candidates who dont postpone r successfl, they'll pick em, n probably move ur application to nxt year cos dey'll hve all d candidates they need or too little time 2 start screening more candidates. That's d risk I think he's talkin abt...plus I think they wont want the potential liability of havin sum1 probably break down during d recruitment process so dey will try 2 give u plenty time 2 recover... Like a year
On the other hand, if u force urslf to go even tho ur sick, u may underperform at d tests and end up failing them, n u r not allowed to re-apply. I think this is what they call a #dilemma.

[quote author=Chy-d-girl][/quote]

By d way, they verify d birth certificate after d aptitude test. They'll ask for it at aptitude test actually, but they wont look too closely. During my aptitude test I was missing my waec cert n my birth cert. I explained this to d lady and all she said was that I shd get them soonest cos I won't be able to proceed to interview stage unleSs dey've verified it. She looked at d other documents (looked, not scrutinized) and I was stil allowed 2 do my test.

sanity27:
Kolade,NHF is stil part of tax relief,having gone tru d PITA amendments 2011,gazetted Jan 2012.

The 7.5% of B+H+T accounts 4 d employee's 7.5% contribution to pension funds as contained in ur offer letter(terms of employment;pension scheme).Check d ofa leta 4 clarificatn,u wil find out dat under other benefit provided by employer,value 4 pension plan(101,754) is d same as wat I got 4 pension,which is kpmg's contributn as earlier stated in d letter.

As regards d new graduated tax band,tank u 4 ur correction.It was an oversight on my part.Applying d new band of 7%,11%,15%,19% & 24% to our compensation,d take home becomes #138,953.Very slight difference,u would agree.

Worthy of note,howeva is d fact dat dis calculatn might nt b 100% perfect,we can only wait to start collecting d accurate amount.Dis is just to give us a clue of d expected!
Thanks 4 ur valued contribution.

Dnt waste much energy. Your monthly take home is N124,600.

Lest I forget, after confirmation you need to give 3 months notice if you want to leave on a good note. Promotion is every year with 10-20k increment depending on your performance.

As concise as everyone would want it.Thank you.CASED CLOSED!

joboy834:


Dnt waste much energy. Your monthly take home is N124,600.

Lest I forget, after confirmation you need to give 3 months notice if you want to leave on a good note. Promotion is every year with 10-20k increment depending on your performance.

sanity27:

End of story!!!!!!!!!!!

Chei! See as una analyse KPMG salary structure for naira land....... Some tings shld be private oooo

Well,you have a point.All the same,no harm done.

EsosaDiva:

Chei! See as una analyse KPMG salary structure for naira land....... Some tings shld be private oooo

Phonon: Well,you have a point.All the same,no harm done.

In all truth, its unprofessional.

I totally agree with your assessment.One has to balance the need between providing information people need to make career decisions (which we can't deny we have benefited from on this forum) and divulging confidential information that the firm has entrusted us with.

koladecollins:

In all truth, its unprofessional.

Truthflly, diz Iڪ unProfessional,why wil sm1 ßε̲̣ analyzing a companyz pay.na waoh. @ list, wait Til Ɣΰ enteR na.Naija graduate sef.smh!

I suggest that everyone edits their posts containing the figures, google turns up this thread anytime anyone makes an enquiry about kpmg.

...and please modify the quotes too, intelligent analysis BTW.

Someone has already made it clear that it was a bad idea to put such analysis out there.There is no need for the "Naija graduate sef" comment.Did you school in Nepal or Somalia?

premium1: Truthflly, diz ȋ̝̊̅ڪ unProfessional,why wil sm1 ßε̲̣ analyzing a companyz pay.na waoh. @ list, wait Til Ɣΰ enteR na.Naija graduate sef.smh!

Hi all,just seeing what has trailed my previous post and in reaction to that,the initial post has been modified!
Sincerely,it all depends on how u choose to see it.There are sites where u can find salaries of bigger international firms and this means entirely nothing. I think our culture of secrecy has just had its rub-off on us all.
All we just wanted to do was to help ourselves, but going by the bidding of the house,i have complied.
Others can modify their quotes if they so desire.
No offence meant/picked in all sincerity,ur notices r appreciated.
Thanks

sanity27: Hi all,just seeing what has trailed my previous post and in reaction to that,the initial post has been modified!
Sincerely,it all depends on how u choose to see it.There are sites where u can find salaries of bigger international firms and this means entirely nothing. I think our culture of secrecy has just had its rub-off on us all.
All we just wanted to do was to help ourselves, but going by the bidding of the house,i have complied.
Others can modify their quotes if they so desire.
No offence meant/picked in all sincerity,ur notices r appreciated.
Thanks

Sanity, please note that you are not being chastised for your actions. Its just that In the corporate world, there is what we call confidentiality which should be held in high esteem. Its part of the "soft skills" requisite to be successful in the business environment. I believe you had good intentions but remember a word spoken that brought peace in a community might spark war if spoken in another.

@sanity27:I stand by you on whatever you posted because I believe you had and still have good intentions.Salary estimates for companies are posted on sites all over the world but maybe not as detailed as it was here.All the same,don't apologise to no one for what you wrote.Let's move the thread forward.If you need gold-plated suits for resumption,let me know.LOL!

[color=#000099][/color]Please who knows where Berlin Market is in Idumota. Help an indigent fella get some nice shirts ;DPlease who knows where Berlin Market is in Idumota. Help an indigent fella get some nice shirts

Phonon

Phonon: @sanity27:I stand by you on whatever you posted because I believe you had and still have good intentions.Salary estimates for companies are posted on sites all over the world but maybe not as detailed as it was here.All the same,don't apologise to no one for what you wrote.Let's move the thread forward.If you need gold-plated suits for resumption,let me know.LOL!

Phonon,I knw say u b big man.u dey owe me suits o.nairalanders b my witnes!Lol
No p as regads d isue,I'av moved ooooo.May God keep us all

Na joke I dey joke o.:-D

sanity27:
Phonon,I knw say u b big man.u dey owe me suits o.nairalanders b my witnes!Lol
No p as regads d isue,I'av moved ooooo.May God keep us all

Phonon: Someone has already made it clear that it was a bad idea to put such analysis out there.There is no need for the "Naija graduate sef" comment.Did you school in Nepal or Somalia?

@sanity27 I totally understand dat all u did was in good faith, no harm intended. U be my guy na buh still pls all post on salaries n figures, Let's modify. Dis post was meant to aid peeps waiting for resumption. Successful peeps can meet and discuss salary wen we resume @ d academy. One luv y'all! Congrats to all dat got dier offer letas. Make sure u read up ur handouts, resumption by the corner @phonon, time flies o*whew, neva open d handout sef

koladecollins: [color=#000099][/color]Please who knows where Berlin Market is in Idumota. Help an indigent fella get some nice shirts ;DPlease who knows where Berlin Market is in Idumota. Help an indigent fella get some nice shirts

@kcollins, my own na accomodation o... Abeg anyy info?

Tingles: ...and please modify the quotes too, intelligent analysis BTW.

Infact editin d quotes r most important.

Well said Esosa.You haven't opened it?You have just been relaxing?Come on.I have perused it but would take a second look after I resign from my present employer this coming week.READ AM O.

EsosaDiva:
@sanity27 I totally understand dat all u did was in good faith, no harm intended. U be my guy na buh still pls all post on salaries n figures, Let's modify. Dis post was meant to aid peeps waiting for resumption. Successful peeps can meet and discuss salary wen we resume @ d academy. One luv y'all! Congrats to all dat got dier offer letas. Make sure u read up ur handouts, resumption by the corner @phonon, time flies o*whew, neva open d handout sef

Phonon: Well said Esosa.You haven't opened it?You have just been relaxing?Come on.I have perused it but would take a second look after I resign from my present employer this coming week.READ AM O.

I have actually scanned mine as pdf, I am so used to reading on the screen these days, besides, I don't want mine to be the dirtiest by the time we resume.

koladecollins: Please who knows where Berlin Market is in Idumota. Help an indigent fella get some nice shirts

I am interested too.

EsosaDiva:
Infact editin d quotes r most important.

The mods could just hide the posts instead of going through the stress of editing.

You scanned yours?That's some serious stuff.My copy now has 'graffiti' all over it;best of luck keeping yours clean.#smiles#.Well,do whatever it takes to get the job done.The pre-read is not exhaustive;one would have to read some texts that would give deeper insight.It's almost here.....

Tingles:
I have actually scanned mine as pdf, I am so used to reading on the screen these days, besides, I don't want mine to be the dirtiest by the time we resume.


I am interested too.


The mods could just hide the posts instead of going through the stress of editing.

Phonon: You scanned yours?That's some serious stuff.My copy now has 'graffiti' all over it;best of luck keeping yours clean.#smiles#.Well,do whatever it takes to get the job done.The pre-read is not exhaustive;one would have to read some texts that would give deeper insight.It's almost here.....

Lol @graffitti... I know it isn't even the course material, it is a PRE-READ and there is scanner lying around , idle. So, I kept the scanner busy since most of my reference materials are in pdf format.