Salaries (Grade 10 NSC Matric Accounting): Flashcards

Monthly (end of each month)

Weekly

Fixed amount paid monthly to permanent employees

$\frac{\text{Annual Salary}}{12}$

Payment equal to one month's salary (13 payments/year)

Extra payment as % of salary, set by employer

13th = fixed (1 month); Bonus = variable %

Standard Income Tax on Employees

Starting salary, annual increments, maximum salary

Sector Education and Training Authority