[social security contributions]
 


class 1 | class 2

Social security contributions (class i)

employed persons
Calendar year 2001


Category

type of employed person

Weekly rate payable by employee
Weekly rate payable by employer
a

persons under 18 years (other than those falling under e below), whose Basic weekly wage does not exceed lm 49.88

lm 2.84
lm 2.84
b
persons over 18 years (other than those falling under f below), whose Basic weekly wage does not exceed lm 49.88
lm 4.99
lm 4.99
c
persons (other than those falling under e & f below) whose basic weekly wage exceeds lm 49.88 but does not exceed lm 125.77
10% calculated to the nearest cent of their basic weekly wage
10% calculated to the nearest cent of their basic weekly wage
d
persons (other than those falling under e & f below) whose basic weekly wage exceeds lm 125.77
lm 12.58
lm 12.58
e
persons under 18 years, following a full time course of studies under the student worker scheme, or other similar scheme (including the extended training scheme but excluding the worker-student schemes), involving distinct work and study periods for which they are receiving remuneration.
10% calculated to the nearest cent of their basic weekly wage, up to a maximum rate contribution of lm 1.88
10% calculated to the nearest cent of their basic weekly wage, up to a maximum rate contribution of lm 1.88
f
persons over 18 years, following a full time course of studies under the student worker scheme, or other similar scheme (including the extended training scheme but excluding the worker-student schemes), involving distinct work and study periods for which they are receiving remuneration.
10% calculated to the nearest cent of their basic weekly wage, up to a maximum rate contribution of lm 3.41
10% calculated to the nearest cent of their basic weekly wage, up to a maximum rate contribution of lm 3.41

Social security contributions (class ii)

self occupied & self employed persons
Calendar year 2001


Category

where annual net income of 2000 [1]

weekly rate of contributions
sp
exceeds lm 430 but does not exceed lm 2,433 (this category is applicable only to single persons who are not self occupied)
Lm 7.02
sa
is less than lm 3,041
lm 8.77
sb
exceeds lm 3,041 but does not exceed lm6,462
the weekly equivalent of 15% of their annual income calculated to the nearest cent.
sc
exceeds lm 6,462
lm 18.64

[1] the annual net income indicated above should exclude maternity benefit, children's allowance and any ex-gratia pension payable under the Social Security Act 1987, Cap 318. The annual net income for the rating of class two contributions should be that of the calendar year immediately preceding the contribution year in which the contribution is being paid.

Due dates for payment
april 30 17 contributions
august 31 18 contributions
december 21 17 contributions
 

 
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