Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help me in answering the following assignments. Can an employer terminate an employee immediately without allowing them to work during the notice period and does

Help me in answering the following assignments.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Can an employer terminate an employee immediately without allowing them to work during the notice period and does this law allow this ? and also on what grounds can a Contract of employment De terminated by an employer.An employee drew the following benefits in the month of October 2014: Basic salary Kshs. 40,000, House allowance Kshs. 30,000, Medical allowance Kshs. 16,000, Car allowance Kshs. 17,000, Entertainment allowance Kshs. 11,000 and responsibility allowance of Kshs. 14,400. During the month the employer made the following payments: Kshs.860 to NHIF, 10% of basic salary to a registered pension scheme, 6 % the basic salary to the cooperative for shares and Kshs. 24,000 to a medical chemist for the drags he had taken. In addition an employee received a tax relief Kshs. 2,112. Using the tax schedule below calculate the employee's a) Gross income b) Taxable pay C) Tax charged d) The net income.Tax schedule Income (Ksh.) p.m Tax rate (%) 1--10,800 10% 10,801--21,600 15% 21,601--32,400 20% 32,401--43,200 25% 43,201 and above 30%A three-year index-linked security is issued at time 0. The security pays nominal coupons of 4% annually in arrear and is redeemed at par. The coupons and capital payment are inflated by reference to the inflation index value 3 months before the payment is made. The inflation index value 3 months before issue was 1 10. The table below shows the index values at other times. Time 0 12 12 2 3 Index 1 12 115 116 118 119 122 125 Calculate the real yield if the price of the stock is $100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Problems And Materials On Commercial Law

Authors: Douglas J. Whaley, Stephen M. McJohn

12th Edition

1543825907, 978-1543825909

More Books

Students also viewed these Law questions

Question

Is it tenure-track, tenured, or something other designation?

Answered: 1 week ago