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- How To Calculate PCB or Scheduled Tax Deduction (STD) for Salary and Bonus
- Brokers Report: PROTASCO - An Undervalued Gem
- Market Daily Report: Market rise on positive China economic data
Saturday, June 12, 2010
Most people will have doubt on how the PCB or STD is calculated especially during the bonus month. In fact, most of us will be anxiously to know the tax deduction to have proper view how much we can spend during that month. So, it is always best for us to know how the PCB are calculated so that we can plan ahead.
Here is how our STD or PCB are calculated.
Assuming person E is single and is drawing monthly salary of RM3,000 and contributing 11% from his monthly salary to EPF.
Salary = RM3,000
EPF deduction = RM330
(Note: The maximum total EPF deduction allowed for PCB or STD calculation is RM500 (RM6,000 / 12 = RM500))
Salary for PCB calculation
= Gross salary - EPF deduction
= RM3,000 - RM330
According to PCB 2010 rate, the PCB for RM2,670 is RM24
So, every month E will be getting
= Gross salary - EPF deduction - PCB (or STD)
= RM3,000 - RM300 - RM24
Now, assume that E is getting RM3,000 in bonus, how much would his PCB on that month?
Bonus = RM3,000
EPF deduction = RM330
Maximum available EPF deduction for PCB calculation = RM500, so the EPF deduction for bonus PCB calculation = RM500 - RM330 = RM170, instead of RM330
Bonus for PCB calculation
= Gross Bonus - EPF deduction
= RM3,000 - RM170
The amount for bonus PCB calculation has a formula like the following:-
= (1/12 x net_bonus) + net_salary
= (1/12 x RM2,830) + RM2,670
= RM235.83 + RM2,670
According to PCB 2010 rate, the PCB for RM2,905.83 is RM42
PCB for bonus = (RM42 - RM24) x 12 = RM216
Total PCB for the month with bonus
= PCB for salary + PCB for bonus
= RM24 + RM216
So, during the bonus month,
Gross salary + bonus = RM3,000 + RM3,000 = RM6,000
EPF deduction = RM660
PCB (or STD) = RM24 + RM240 = RM264
E will be getting
= Gross salary + bonus - EPF deduction - PCB (or STD)
= RM6,000 - RM660 - RM264
Why not try out the calculation with your salary and let me know whether the calculation and formula is accurate by checking your payslip. I am sure I will check it this month :D
Credit to The 8th Voyager
This year again, we will have new PCB rate and the rate is lower compares to the 2009 PCB rate. Click the links below to get the rate for both PCB 2009 and PCB 2010 and do some comparison.
Click here to download the PCB 2009 rate
Click here to download the PCB 2010 rate
I might be posting on how to calculate the PCB or STD in the future.
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Sunday, June 6, 2010
Information on Light, Sweet Crude Oil Futures Trading
Crude oil began futures trading on the NYMEX in 1983 and is the most heavily traded commodity.
Trading unit: Crude Oil Futures trade in units of 1,000 U.S. barrels (42,000 gallons). Options: One NYMEX Division light, sweet crude oil futures contract
Trading Months: Crude Oil Futures trade 30 consecutive months plus long-dated futures initially listed 36, 48, 60, 72, and 84 months prior to delivery. Additionally, trading can be executed at an average differential to the previous day’s settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours. Options: 12 consecutive months, plus three long-dated options at 18, 24, and 36 months out on a June/December cycle.
Crude Oil Futures are quoted in dollars and cents per barrel.
Minimum Price Fluctuation: $0.01 (1¢) per barrel ($10 per contract).
Maximum Daily Price Fluctuation
Futures: Initial limits of $3.00 per barrel are in place in all but the first two months and rise to $6.00 per barrel if the previous day's settlement price in any back month is at the $3.00 limit. In the event of a $7.50 per barrel move in either of the first two contract months, limits on all months become $7.50 per barrel from the limit in place in the direction of the move following a one-hour trading halt.
Options: No price limits.
Last Trading Day
Crude Oil Futures: Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading shall cease on the third business day prior to the last business day preceding the 25th calendar day.
Options: Trading ends three business days before the underlying futures contract.
F.O.B. seller's facility, Cushing, Oklahoma, at any pipeline or storage facility with pipeline access to TEPPCO, Cushing storage, or Equilon Pipeline Co., by in-tank transfer, in-line transfer, book-out, or inter-facility transfer (pumpover).
All deliveries are rateable over the course of the month and must be initiated on or after the first calendar day and completed by the last calendar day of the delivery month.
Alternate Delivery Procedure (ADP)
An Alternate Delivery Procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange.
Exchange of Futures for, or in Connection with, Physicals (EFP)
The commercial buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position.
Specific domestic crudes with 0.42% sulfur by weight or less, not less than 37° API gravity nor more than 42° API gravity. The following domestic crude streams are deliverable: West Texas Intermediate, Low Sweet Mix, New Mexican Sweet, North Texas Sweet, Oklahoma Sweet, South Texas Sweet.
Specific foreign crudes of not less than 34° API nor more than 42° API. The following foreign streams are deliverable: U.K. Brent and Forties, and Norwegian Oseberg Blend, for which the seller shall receive a 30¢-per-barrel discount below the final settlement price; Nigerian Bonny Light and Colombian Cusiana are delivered at 15¢ premiums; and Nigerian Qua Iboe is delivered at a 5¢ premium.
Inspection shall be conducted in accordance with pipeline practices. A buyer or seller may appoint an inspector to inspect the quality of oil delivered. However, the buyer or seller who requests the inspection will bear its costs and will notify the other party of the transaction that the inspection will occur.
Any one month/all months: 20,000 net futures, but not to exceed 1,000 in the last three days of trading in the spot month.
Margins are required for open futures or short options positions. The margin requirement for an options purchaser will never exceed the premium.
Saturday, June 5, 2010
Further, it offers platforms that include a microprocessor, chipset, and enabling software. Intel sells its products primarily to original equipment manufacturers, original design manufacturers, PC and network communications products users, and other manufacturers of industrial and communications equipment. The company was founded in 1968 and is based in Santa Clara, California.