Tax on Income... Please advise!!!

Pokerman


Joined: 18/03/2008
Posts: 29


Message Posted:
08/09/2008 08:57

Hi,



I pay social security on my income here in the TRNC and i have an agreement with my employer that we will split this 50/50, fine by me!



But I have just heard of another stoppage though "Provident Fund" can anyone tell what exactly this is and whether it is generally a responsibility of the employer or employee to pay?



Advice appreciated thanks, Pokerman

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
08/09/2008 09:35

If you are employed by somebody, it is the responsibility of the employer to pay this tax and just like the Social Security premium, part of it is deducted from your pay. It is roughly 5% employer and 5% employee