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Mr. Rahman is currently trying to calculate his Provident Fund (PF) since he has decided to leave his job at Nestle Bangladesh. He has served the organization for 4 years with clean record. Every month, 5% of his basic salary (Tk. 36,500) has been contributed toward the provident fund and every year his base pay has been incremented by 10%. Calculate how much PF he will he receive in total? The contribution schedule has been given below: No. of years served Proportion of employer's contribution 5 years and above 100% match 4 years 80% match 3 years 60% match 2 years 20% match Less than 2 years 0% match

Mr. Rahman is currently trying to calculate his Provident Fund (PF) since he has decided to leave his job at Nestle Bangladesh. He has served the organization for 4 years with clean record. Every month, 5% of his basic salary (Tk. 36,500) has been contributed toward the provident fund and every year his base pay has been incremented by 10%. Calculate how much PF he will he receive in total? The contribution schedule has been given below: No. of years served Proportion of employer's contribution 5 years and above 100% match 4 years 80% match 3 years 60% match 2 years 20% match Less than 2 years 0% match

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr. Rahman is currently trying to calculate his Provident Fund (PF) since he has decided to leave his job at Nestle Bangladesh. He has served the organization for 4 years with clean record. Every month, 5% of his basic salary (Tk. 36,500) has been contributed toward the provident fund and every year his base pay has been incremented by 10%. Calculate how much PF he will he receive in total? The contribution schedule has been given below: No. of years served Proportion of employer's contribution 5 years and above 100% match 4 years 80% match 3 years 60% match 2 years 20% match Less than 2 years 0% match
Transcribed Image Text:Mr. Rahman is currently trying to calculate his Provident Fund (PF) since he has decided to leave his job at Nestle Bangladesh. He has served the organization for 4 years with clean record. Every month, 5% of his basic salary (Tk. 36,500) has been contributed toward the provident fund and every year his base pay has been incremented by 10%. Calculate how much PF he will he receive in total? The contribution schedule has been given below: No. of years served Proportion of employer's contribution 5 years and above 100% match 4 years 80% match 3 years 60% match 2 years 20% match Less than 2 years 0% match
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