QUOTE(Semper Fi @ Apr 11 2011, 11:33 AM)
Hi there,
Jz rcv my appointment letter.
Nid to read it thoroughly b4 i sign to avoid bein conned! Lolx!
Can anyone xplain da following?
- In line with company flexible wage framework, 15% of ur salary will classified as MVC (Monthly Variable Component)
Wow!Wat do i hvta pay?I tot v foreigner r gettin da salary in nett wiv no CPF involves.
- You will be responsible for income tax on your remuneration.
Hw do i run da tax in dis case?
Thnx in advance for ur response!
MVC 15% means if your company not doing well, they have the right to lower your salary by max 15%Jz rcv my appointment letter.
Nid to read it thoroughly b4 i sign to avoid bein conned! Lolx!
Can anyone xplain da following?
- In line with company flexible wage framework, 15% of ur salary will classified as MVC (Monthly Variable Component)
Wow!Wat do i hvta pay?I tot v foreigner r gettin da salary in nett wiv no CPF involves.
- You will be responsible for income tax on your remuneration.
Hw do i run da tax in dis case?
Thnx in advance for ur response!
"MVC is a “standby” component to be used by employers to bring down wage costs in sudden
and severe business downturns to survive and save jobs. Monthly Variable Component ((MVC) forms part of monthly basic salary. It is to be included in computing overtime payment and CPF contribution."
This post has been edited by giorgene: Apr 11 2011, 12:44 PM
Apr 11 2011, 12:42 PM

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