National Insurance Scheme The National Insurance Scheme (NIS) is a compulsory contributory funded social security scheme covering all employed persons in Jamaica.
Jun 18, 2019 · Updated list of currency names. 3 character alphabetic and 3 digit numeric ISO 4217 codes for each country.
2.5%NIS* 2.5% Gross Emoluments 2%NHT 3% Gross Emoluments **ED TAX 2.25% 3.5% Statutory Income PAYE/ INCOME TAX 25% N/A Statutory Income Less Income Tax Threshold HEART 3% N/A Payroll if the Gross Taxable Employer’s payroll costs exceeds $173,328 per annum * NIS Ceiling: 2.5% o f $1,500,000.00 = $37,500
- Voluntary Contributors
- How to Calculator Nis
Employed people; All employees aged between 18-70 (65 for women) must contribute and each employee must have a N.I.S. number, regardless of full or part time work, or on a probationary period. In adherence to the 'insurable wage ceiling', stipulated in the National Insurance Act, calculations are derived from a portion of earnings. The 'insurable wage ceiling' is currently $1,500,000.00 per annum. No additional deduction is made on any amount above this figure. The contribution rate is 5% and includes a National Health Fund contribution of 1%. Employers match employee contributions i.e. 2½ % is paid by the employee and 2½% by the employer. However, domestic workers make contributions by affixing a $100.00 NIS stamp to Stamp Cards, costing the employer and employee $50 a week. N.I.S. contributions are due by the 14th day of the following month. e.g. contributions for the month of January must be paid by the 14th day of February. Annual Return forms (SO2 Form) must be handed in direct...
Voluntary Contributors are insured people under retirement age who: 1. have made a specified number of contributions as employed or self employed 2. are no longer liable to contribute in either category 3. wish to continue contributing to maintain their contribution record and 4. have been granted written permission by the Minister. Voluntary contributors whose gross annual income is $20,800 and over also pay 5% of this additional income as contribution. This 5% is payable on gross annual income up to a maximum of $1,500,000. You must obtain them from the National Insurance Office, purchase and affix stamps and surrender them to the National Insurance Office at the date of expiration.
Calculating NIS (National Insurance Scheme deductions) has never been easier, simply enter your income and other income(s) into the Jamaica Tax Calculator. The tax calculatorwill work out the taxes due and provides example calculations so you can understand how your NIS deductions are calculated.
Below, we list ISO 4217 codes for currencies in circulation, plus some (marked with an asterisk) that are not officially recognized by the ISO. This list excludes obsolete and old Euro-zone currencies. Currency codes are composed of a country's two-character Internet country code plus a third character denoting the currency unit.
The currency codes are specified by ISO 4217. Most codes are composed of the two-character country code, and the first character of the national currency name. Related resources: International Organization for Standardization (ISO) List of Central National BanksCountryCodeCurrency NameCapitalAfghanistanAFNAfghanistan AfghaniKabulAlbaniaALLAlbanian LekTiranaAlgeriaDZDAlgerian DinarAlgiersAmerican SamoaUSDUS DollarPago Pago
Currency Server uses ISO 4217 currency codes for internal storage, in the COM and Web service interfaces, and when collecting information from certain exchange rate data sources. Reference The following table includes a selection of currency names and abbreviations maintained by Cloanto as part of its Currency World Monitor service.Currency NameCodeAfghanistan afghaniAFAAlbanian lekALLAlgerian dinarDZDAngolan kwanza reajustadoAOR
any NIS Office in Jamaica, or. the Ministry of Labour and Social Security's website at www.mlss.gov.jm and select " National Insurance Scheme " from the menu at the left of the screen. This will take you to the NIS page of the site. Scroll down the page to and click on Registration. On the new page, select and download the NIS registration form.
Apr 26, 2021 · JMD is the currency abbreviation for the Jamaican dollar, the official currency for the island nation of Jamaica, and is subdivided into 100 cents. In the foreign currency market, the most common...