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Sunday, April 8, 2012

Re: ::: vuaskari.com ::: MTH302 Assignment No. Idea Solution by Asad Munir

dont share the cell phones x-(

On Sun, Apr 8, 2012 at 5:01 PM, mc090404699 Muhammad Zia Ur Rehman <mc090404699@vu.edu.pk> wrote:
hy Guys n Girls I have Recently Completed my MBA Finance With 3.19-CGPA 2-years


Currently I am Working with Imperial Group Of Companies As an Financial Adviser

Imperial Construction Company , EMCO industries, Imperial Electrics, And ICC Textiles Lahore

in the Evening
I have been Teaching Accounts , TAX , Banking n Finance At Pakistan School of Accountancy and Physical Sciences

now i am Offering my Services to You Virtual University Students ...

Any one want Tuition From me online or Home Tuition i am here to Do so

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On Sun, Apr 8, 2012 at 12:16 PM, Binish Awais <greyferry@gmail.com> wrote:
courageous effort Asad nice helping attitude
May GOD bless u


On Sun, Apr 8, 2012 at 10:39 AM, Asad Munir <mc090402550@gmail.com> wrote:
Dear Friends Question No. 1 has reviewed and one mistake was corrected.
 
Question No. 1
Basic Salary = 16,000
House Rent Allowance = 16,000 x .45 = 7200
Conveyance Allowance = 16,000 x .10 = 1600
Utilities Allowance = 16,000 x .10 = 1600
Total Allowances = 7200+1600+1600= 10,400

Provident Fund = 16,000 x 1/11 = 1455
Gratuity Fund = 16,000 x 1/11 = 1455

Earned Leave = (26,400 x 12)x{(24/(22x12)} = 28,800
Casual Leave = (26,400 x 12)x{(12/(22x12)} = 14,400
Misc. Social Charges = 26,400 x .065 = 1716

Gross Salary = 16,000+10,400+1455+1455+28,800+14,400+1716=74,226


Question No. 2

Discount Factor = (1-1/(1+i)^n)/i
Discount Factor = (1-1/(1+.05)^20)/.05
Discount Factor = 12.4622

Discounted Value = 20,000 x 12.4622 = 249,244


On Sun, Apr 8, 2012 at 2:33 AM, mc120203246 Syed Zahid-Ul-Hassan <mc120203246@vu.edu.pk> wrote:
and what about the TAX because all the allowances are more then 50 percent? 



On Sat, Apr 7, 2012 at 6:22 PM, Ali Khann <ddrc14@gmail.com> wrote:
in-short it is obvious to calculate even if it is not given. 


On Sat, Apr 7, 2012 at 5:17 PM, Ali Khann <ddrc14@gmail.com> wrote:
here is your Answer, read it very very carefully it is understood in This Question if they are not given.
Provident fund is a type of saving which the employees and the employees and the employer must remit into the fund with the objective of serving as guarantee and welfare benefits for the employees after retirement. According to local laws, a company can establish a Provident Trust Fund for the benefit of the employees. By law, 1/11th of Basic Salary per month is deducted by the company from the gross earnings of the employee. An equal amount, i.e 1/11th of basic salary per month, is contributed by the company to the Provident Fund to the account of the employee. Thus there is an investment of 2/11th of basic salary on behalf of the employee in Provident Fund. The company can invest the savings in Provident Fund in Government Approved securities such as defense saving Certificates. Interest earned on investments in Provident Fund is credited to the account of the employees in proportion to their share in the Provident Fund. Gratuity is a part of allowance. It is a benefit which an organization gives to his worker. Gratuity means the one basic salary after 11 month of a year given to a worker. But every year that amount credit into the Gratuity Trust Fund of that organization on the behalf of that person. Every year that amount added into the Gratuity trust Fund. Company invests that money into different resources. The profit earned from that amount is also added into the worker's gratuity account. A person received that amount when he left his job or at the time of retirement. Its Formula is very simple Company contribution to Gratuity Fund = 1/11 of basic salary = (1/11) x Basic salary 

On Sat, Apr 7, 2012 at 3:44 PM, mc120203246 Syed Zahid-Ul-Hassan <mc120203246@vu.edu.pk> wrote:
Dear Asad,

Please Explain, Why Provident & Gratuity funds are mentioned in your solution, where in assignment Funds had not been asked. 
Total Allowance is 65% which is more then 50, shouldn't we deduct 15% allowance & add back to company as tax.

Your reply will be appreciated.

Thanks

Regards.


On Sat, Apr 7, 2012 at 8:44 AM, Asad Munir <mc090402550@gmail.com> wrote:
Question No. 1
Basic Salary = 16,000
House Rent Allowance = 16,000 x .45 = 7200
Conveyance Allowance = 16,000 x .10 = 1600
Utilities Allowance = 16,000 x .10 = 1600
Total Allowances = 7200+1600+1600= 10,400

Provident Fund = 16,000 x 1/11 = 1455
Gratuity Fund = 16,000 x 1/11 = 1455

Earned Leave = (26,400 x 12)x{(24/(22x12)} = 28,800
Casual Leave = (26,400 x 12)x{(24/(22x12)} = 14,400
Misc. Social Charges = 16,000 x .065 = 1040

Gross Salary = 16,000+10,400+1455+1455+28,800+14,400+1040=73,550

Question No. 2

Discount Factor = (1-1/(1+i)^n)/i
Discount Factor = (1-1/(1+.05)^20)/.05
Discount Factor = 12.4622

Discounted Value = 20,000 x 12.4622 = 249,244

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for more info Visit www.vuaskari.com/index.php
Regards
Ali Khan * ©yberian  *


--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
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--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
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--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
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MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
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MIS Group: http://groups.google.com/group/askari_mis?hl=en
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