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paano po ang computation ng kookmin nten?

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paano po ang computation ng kookmin nten?

Post by rotcaf_x_3blig on Mon Mar 02, 2009 9:39 pm

paano nga po kaya ang computation ng kookmin nten?more power nga pla s Sulyapinoy at FEWA..ok sumagot ang mga tao..God bless...

rotcaf_x_3blig
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Re: paano po ang computation ng kookmin nten?

Post by dave on Wed Mar 04, 2009 11:18 am

paano nga po kaya ang computation ng kookmin nten?more power nga pla s Sulyapinoy at FEWA..ok sumagot ang mga tao..God bless...
kabayan,
please wait... i hope to provide you detailed computation within this week... i'm still coordinating the NPS representative about NPS Tax Deduction and Interest Rate matters... i'll get back to you soon... thanks!

dave
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Re: paano po ang computation ng kookmin nten?

Post by dave on Wed Mar 04, 2009 4:18 pm

paano nga po kaya ang computation ng kookmin nten?more power nga pla s Sulyapinoy at FEWA..ok sumagot ang mga tao..God bless...
kabayan,
at last i got some helpful reference on how our NPS Lump-sum Refund or "kukmin" is computed... thanks to NPS Q&A Service for Foreigners. please refer below as i tried to elaborate on how to compute our NPS Lump-sum Refund....

1) Monthly Contribution:
-> Worker: 4.5% of our monthly basic salary
-> Employer: 4.5% of our monthly basic salary

2) Scope: Mandatory to all Foreign workers regardless of the type of business industry of our respective employers.

3) Lump-sum Refund Formula:
-> Total Lump-sum Refund = (Total NPS Contribution + Interest) ㅡ NPS Income Tax Deduction ㅡ Inhabitant Tax

4) Fixed Interest Rate:
-> The interest rate that is applied to the NPS contribution is determined by taking an average from nation wide banking institutions established under the Banking Act, announced every January 1st of each year. In this case, the interest rate applied are different for each year.


Note: While your are paying contributions under the NPS scheme, the interest rate of time deposit with a maturity of three years shall be applied, whereas, after the insured period through the application date, the interest rate of time deposit with a maturity of one year shall be used.

For example, the interest rate of 3 years maturity time deposit in 2008 was 4.2% and that of 1 year maturity time deposit in the same time was 3.8% respectively.


4) NPS Income Tax Deduction Formula:

-> NPS Non-taxable Income = [(45%*(Total NPS Contribution + Interest)] + [300,000won * Accumulative Work Years]
-> NPS Taxable Income = (Total NPS contribution + Interest) ㅡ Non-taxable Income
-> Tax Rate = 9% if the NPS Taxable Income is no more than 10,000,000 won.

NPS Income Tax Deduction = (NPS Taxable Income/Accumulative Work Years * Tax Rate) * Accumulative Work Years

5) Inhabitant Tax Formula:
-> Inhabitant Tax = 10% of NPS Income Tax Deduction


===============================================================================
For Example:
-> Juan dela Cruz is contributing 50,000won to NPS monthly. How much lump-sum refund can he expect to receive after 3-years of work?

Computation:
1) Total Contribution = [50,000 (Juan) + 50,000 (his employer)] * 36 months
-> Total Contribution = 3,600,000 won

2) Total Interest: Since the interest rate will vary every year, thus only the NPS knows what interest rate applies. So, as an example, we will use the 2008 fixed rate at 4.2%. This is just an example computation.
-> Total Interest = 3,600,000 * .042 = 151,200 won

3) NPS Income Tax Deduction:
-> NPS Non-taxable Income = [.45*(3,600,000 + 151,200)] + 300,000 * 3-years of work
-> NPS Non-taxable Income = 2,588,040 won

-> NPS Taxable Income = (3,600,000 + 151,200) ㅡ 2,588,040
-> NPS Taxable Income = 1,163,160 won

-> NPS Income Tax Deduction = [(1,163,160 / 3-years) * .09] * 3-years
-> NPS Income Tax Deduction = 104,684.4 won

4) Inhabitant Tax Deduction:
-> Inhabitant Tax = 10% * 104,684.4
-> Inhabitant Tax = 10,468.44 won

5) Expected Total Lump-sum Refund to be received after 3-years sojourn:
-> Total Lump-sum Refund = (3,600,000 won + 151,200 won) ㅡ 104,684.4 won ㅡ 10,468.44 won
-> Total Lump-sum Refund = 3,751,200 won ㅡ 115,152.84 won

So, the Total Lump-sum Refund = 3,636,047.16 won

dave
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Re: paano po ang computation ng kookmin nten?

Post by prince_rainier06 on Tue Mar 10, 2009 8:12 pm

ty

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Re: paano po ang computation ng kookmin nten?

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