Benefit in kind - for car

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1 month 2 days ago #3245 by Universal
Dear Kap Chew,

can you guide me the way how do I add in benefit in kind for car need to deduct on salary?

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1 month 2 days ago #3246 by Kap-Chew
Replied by Kap-Chew on topic Benefit in kind - for car
I will need to confirm one thing first, if I am not mistaken, benefit in kind is only for showing on payslip, but it does not involve in the calculation of salary? i.e. it will not be added or deducted from the gross salary?

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1 month 2 days ago #3247 by Universal
Replied by Universal on topic Benefit in kind - for car
yes, it will not deduct salary, but will add in the figure benefit , then to get paid on tax only

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1 month 2 days ago #3248 by Kap-Chew
Replied by Kap-Chew on topic Benefit in kind - for car
That means let's say salary = 1000, BIK = 100, then payslip

salary = 1000
BIK = 100
total salary = 1100
tax = calculate based on 1100

is it so?

If so, I think Variable Pay can already serve that purpose.

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1 month 2 days ago #3249 by Universal
Replied by Universal on topic Benefit in kind - for car
noted with many thanks, so I just tick on tax only or other statutory

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1 month 2 days ago #3250 by Kap-Chew
Replied by Kap-Chew on topic Benefit in kind - for car
If it is as what I showed in the calculation, you just have to check the Tax option, and uncheck other contributions.

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