Dear members,

May you please advice me on calculating terminal benefits for an employee

Let’s say Mr. E has been working with ABC Company Ltd since 26th June 2007 and is to be terminated in 30th June 2009 after the business closure. His starting salary was US$300 per month plus 15% housing benefit totalling US$345. After salary review his new salary is US$334 per month plus housing benefit 15% totalling US$384.1

Assuming that Mr. E is being deducted 10% from his gross salary per month by National Security Fund and 9% as income tax.

Question: how is his terminal benefits calculated? An example in excel format please.

Much appreciation and thanks,

Silas

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