Moderator: 3ne2nr Mods
Dave wrote:A short term contract for service is an open and shut case. I would only fault them for not saying you are responsible for remitting your own statutory payments.
They will employ you...break the contract for a period then rehire. No obligation for them to deduct and remit anything on your behalf.
Bad Dog wrote:As an independent contract worker you are hired for specific service and you are responsible for your own taxes and has no employer sponsored benefits which includes sick days/pay. pension or other employee related benefits. Simply, independent contract workers are not employees of the company but a permanent contract worker is a different story.
redmanjp wrote:either way u should have another source of income for when u retire as NIS is a small amount of money, but its even more critical if u not getting any NIS. so u should start making a contribution to a UTC account or an annuity or something. even if its just $200 per month u could afford its better than nothing.
wtf wrote:Once he is earning greater than $200 per week from an employer he is entitled to have his nis paid by said employer.
Remember he ain't getting any younger and at the end he would have had 1 year less nis contributions towards his retirement.
From the sound of it you are on a contract for service this is work done by contractors and not a contract of service which is undertaken by employees and because of such there is no employee /employer relationship so no statutory deductions are to be made. The onus is on the employer to deduct contributions on behalf of his employees. At this time there is nothing in place to accommodate self employed individuals, there has been talk by the minister of finance for years over such but alas to no avail, so until further notice that is not possible.pioneer5220 wrote:They say that I am a service provider and contractor although they pay my salary monthly through the bank but refuses to take out the NIS and pay it.
I am on a 1 year contract presently. I work on a computer at the company everyday my position is marketing and tech support
I went into NIS office they said I can't pay it myself because I am working at the company, I spoke to my manager and he said that NIS has no clue what they are talking about and that I can pay it myself
WTF to do
wtf wrote:How much the cashier working for at 23 years of age?
redmanjp wrote:if he is a service provider, he shouldn't be getting a 'salary'. Salaries are for employees.
also he should be able to charge his own price- since when the company decides what to charge him for? doesn't a service provider decide that?
OP u should invoice the company for a higher amount.
This!!!Everyday I see ppl who destitute waiting months sometimes even years for their pensions and I ask myself what were you doing with your life that you have NOTHING in your old age. Pretend it have no NIS or old age pension because due to the aging population that could be a reality in the not too distant future unless ofc the government pull a similar bail out as the clico effect. Always invest in private pensions, regardless if your employer offers one it better to have 3 or four pensions than just depending on the governmentredmanjp wrote:either way u should have another source of income for when u retire as NIS is a small amount of money, but its even more critical if u not getting any NIS. so u should start making a contribution to a UTC account or an annuity or something. even if its just $200 per month u could afford its better than nothing.
I tell yuh be careful with what u doing.pioneer5220 wrote:redmanjp wrote:if he is a service provider, he shouldn't be getting a 'salary'. Salaries are for employees.
also he should be able to charge his own price- since when the company decides what to charge him for? doesn't a service provider decide that?
OP u should invoice the company for a higher amount.
They got angry with me for going to NIS and showing them my contract and also for discussing the issue with the person in charge of salary payment, I think they are going to fire me now.
So I will say nothing further and look for another job
Thank you everyone for all the assistance.
He is just educating himself without his employer knowing.Phone Surgeon wrote:I tell yuh be careful with what u doing.pioneer5220 wrote:redmanjp wrote:if he is a service provider, he shouldn't be getting a 'salary'. Salaries are for employees.
also he should be able to charge his own price- since when the company decides what to charge him for? doesn't a service provider decide that?
OP u should invoice the company for a higher amount.
They got angry with me for going to NIS and showing them my contract and also for discussing the issue with the person in charge of salary payment, I think they are going to fire me now.
So I will say nothing further and look for another job
Thank you everyone for all the assistance.
Study what illegal while yuh home starving and 100 other people gladly take that job for less money.
I tell yuh be careful with what u doing.Phone Surgeon wrote:
Phone Surgeon wrote:Quietly look for something better but don't leave sure money if you know you need it.
Dizzy28 wrote:If he isn't really bringing in too much money and really only working for that $4500/month it probably isn't wort it to register an LLC.
Sole traders can only pay for their workers not for themselves and for voluntary contributions an in depth interview is conducted regarding where you will be getting the funds to make these contributions, as opposed to normal contributions which one third is paid by the employee and two thirds by the employer , voluntary you will be paying the entire amount and you cannot be self employed or else you will be blanked.Voluntary contributions are really targeted for persons close to retirement and have money set aside but missing payments for the 750 contributions to help them get a pensionThe_Honourable wrote:Dizzy28 wrote:If he isn't really bringing in too much money and really only working for that $4500/month it probably isn't wort it to register an LLC.
Yeah LLC not worth it.
@pioneer5220, register as a sole trader. A sole trader is a self-employed person who owns and runs their own business as an individual. Then register with NIB and make voluntary contributions so you would not lose out on the 260 that you already made. As mentioned by redmanjp, have another plan going on in case NIS doesn't pan out. Reliance on a government plan is risky now and may even be worse in the future. As mentioned, check UTC or even First Citizens Investment Services. Another you can check is Guardian Asset Management.
hover11 wrote:Sole traders can only pay for their workers not for themselves and for voluntary contributions an in depth interview is conducted regarding where you will be getting the funds to make these contributions, as opposed to normal contributions which one third is paid by the employee and two thirds by the employer , voluntary you will be paying the entire amount and you cannot be self employed or else you will be blanked.Voluntary contributions are really targeted for persons close to retirement and have money set aside but missing payments for the 750 contributions to help them get a pensionThe_Honourable wrote:Dizzy28 wrote:If he isn't really bringing in too much money and really only working for that $4500/month it probably isn't wort it to register an LLC.
Yeah LLC not worth it.
@pioneer5220, register as a sole trader. A sole trader is a self-employed person who owns and runs their own business as an individual. Then register with NIB and make voluntary contributions so you would not lose out on the 260 that you already made. As mentioned by redmanjp, have another plan going on in case NIS doesn't pan out. Reliance on a government plan is risky now and may even be worse in the future. As mentioned, check UTC or even First Citizens Investment Services. Another you can check is Guardian Asset Management.
Also Alot of ppl get it confused, you are only considered an employer in the eyes of the NIB when you hire your first employee , coming to the office only to be turned away due to having no employeesDizzy28 wrote:hover11 wrote:Sole traders can only pay for their workers not for themselves and for voluntary contributions an in depth interview is conducted regarding where you will be getting the funds to make these contributions, as opposed to normal contributions which one third is paid by the employee and two thirds by the employer , voluntary you will be paying the entire amount and you cannot be self employed or else you will be blanked.Voluntary contributions are really targeted for persons close to retirement and have money set aside but missing payments for the 750 contributions to help them get a pensionThe_Honourable wrote:Dizzy28 wrote:If he isn't really bringing in too much money and really only working for that $4500/month it probably isn't wort it to register an LLC.
Yeah LLC not worth it.
@pioneer5220, register as a sole trader. A sole trader is a self-employed person who owns and runs their own business as an individual. Then register with NIB and make voluntary contributions so you would not lose out on the 260 that you already made. As mentioned by redmanjp, have another plan going on in case NIS doesn't pan out. Reliance on a government plan is risky now and may even be worse in the future. As mentioned, check UTC or even First Citizens Investment Services. Another you can check is Guardian Asset Management.
Correct!!
My pardner is a sole trader in the food business and earlier today I asked him if the NIB system allows him to pay for himself he said no. He however pays the 2/3rd contribution for his three employees.
Dizzy28 wrote:hover11 wrote:Sole traders can only pay for their workers not for themselves and for voluntary contributions an in depth interview is conducted regarding where you will be getting the funds to make these contributions, as opposed to normal contributions which one third is paid by the employee and two thirds by the employer , voluntary you will be paying the entire amount and you cannot be self employed or else you will be blanked. Voluntary contributions are really targeted for persons close to retirement and have money set aside but missing payments for the 750 contributions to help them get a pensionThe_Honourable wrote:Dizzy28 wrote:If he isn't really bringing in too much money and really only working for that $4500/month it probably isn't wort it to register an LLC.
Yeah LLC not worth it.
@pioneer5220, register as a sole trader. A sole trader is a self-employed person who owns and runs their own business as an individual. Then register with NIB and make voluntary contributions so you would not lose out on the 260 that you already made. As mentioned by redmanjp, have another plan going on in case NIS doesn't pan out. Reliance on a government plan is risky now and may even be worse in the future. As mentioned, check UTC or even First Citizens Investment Services. Another you can check is Guardian Asset Management.
Correct!!
My pardner is a sole trader in the food business and earlier today I asked him if the NIB system allows him to pay for himself he said no. He however pays the 2/3rd contribution for his three employees.
That is what it will be soon enough, contributions were supposed to increase since 2016 we are in 2022 and NIS contributions are still the same. NIB continues to spend more that it earns, the government's pyramid scheme isn't working out well , more old ppl at the top and less ppl on the ground (contributors) to support them. Some tough decisions must be made such as raising the retirement age and raising the contributions every year ,some benefits might even be eliminated as wellDMan7 wrote:Speaking of NIS just now I feel NIS would just be a tax and we will not be getting any actual insurance when we reach 60+ years of age.
Return to “Ole talk and more Ole talk”
Users browsing this forum: Google Adsense [Bot] and 64 guests