Total Salary TK. 50,000 Basic           TK 40,000 House Rent TK 20,000 Telephone    TK   2,000 Medical         TK   5,000 Miscellaneous TK 3,000 Provident Fund @ 8.33% of Basic Annual Increment 12%   It is decided by the company that if an employee serves the organization for 5 years, 100% of the provident fund will get mature. So, what will be the total amount of provident fund if that employee quits the job after 5 years?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Total Salary TK. 50,000

Basic           TK 40,000

House Rent TK 20,000

Telephone    TK   2,000

Medical         TK   5,000

Miscellaneous TK 3,000

Provident Fund @ 8.33% of Basic

Annual Increment 12%

 

It is decided by the company that if an employee serves the organization for 5 years, 100% of the provident fund will get mature. So, what will be the total amount of provident fund if that employee quits the job after 5 years?

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