[social security contributions]
 


class 1 | class 2

Social security contributions (class i)

employed persons
Calendar year 2004


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 53.88

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 53.88
lm 5.39
lm 5.39
c
persons (other than those falling under e & f below) whose basic weekly wage exceeds lm 53.88 but does not exceed lm 129.77
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 129.77
lm 12.98
lm 12.98
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 2004

Category

where annual net income of 2003 [1]

weekly rate of contributions
sp
exceeds lm 430 but does not exceed lm2,700 (this category is applicable only to single persons who are not self occupied)
Lm 7.79
sa
is less than lm 3,327
Lm 9.61
sb
exceeds lm 3,327 but does not exceed lm6,748
the weekly equivalent of 15% of their annual income calculated to the nearest cent.
sc
exceeds lm 6,748
Lm 19.47

[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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