Shell Malaysia 2010 Scholarship for tertiary education

Every year, Shell Malaysia provides scholarships to offer financial support for qualified students study in universities locally and abroad.


They are currently accepting scholarship application for full-time undergraduate studies tenable at recognized universities in Malaysia or overseas, and Pre-University studies in Malaysia.

Eligibility:

Students who have completed their SPM/O-Level, STPM/A-Level/Foundation Year/Diploma or currently in their final semester of Matriculation studies or in the University (IPTA/IPTS)

Conditions:

• Excellent academic achievement with emphasis in English
• Demonstration of leadership skills through active participation in extra-curricular activities
• Strong academic record and realistic expectation of a high CGPA or its equivalent

Preferred disciplines for scholarships:

• Engineering (Petroleum, Chemical, Electrical and Mechanical)
• Sciences (Geosciences, Chemistry and Physics)
• Business Administration / Economics
• Finance & Accounting
• IT (includes Business/ Management IT)
• Master of Science (MsC) in Geosciences

Closing date:

30 March 2010

Click here for more information about Shell Malaysia 2010 Scholarship programme.

How the PCB for bonus is calculated

The Potongan Cukai Bulanan (PCB, a.k.a. Scheduled Monthly Tax Deduction) calculation for bonus is not so straight forward.

Here is how it will be calculated.

Assuming you are not married, your monthly salary is RM4,000, you are contributing 11% from your salary to your EPF savings, and you received 2 months bonus in January 2010.

Salary = RM4,000
EPF deduction = RM440 (maximum total EPF deduction allowed for PCB calculation is only RM500, therefore available balance left is RM500 - RM440 = RM60)
Salary to calculate PCB
= Gross salary - EPF deduction
= RM4,000 - RM440
= RM3,560

PCB 2010 according to table for RM3,560 = RM87

2 months bonus = RM8,000
EPF deduction = RM880
Maximum available EPF deduction for PCB calculation = RM500 - RM440 = RM60
Therefore, the EPF deduction should be RM60 instead of RM880

Bonus to calculate PCB
= Gross bonus - EPF deduction left
= RM8,000 - RM60
= RM7,940

The amount for bonus PCB calculation has a formula like this:
(1/12 x net_bonus) + net_salary

Therefore, amount
= (1/12 x RM7,940) + RM3,560
= RM4,221.67

PCB 2010 according to table for RM4,221.67 = RM194

PCB for bonus = (RM194 - RM87) x 12 = RM1,284

Total PCB for the month
= PCB for salary + PCB for bonus
= RM87 + RM1,284
= RM1,371

Therefore, for the month with bonus:
Gross salary+bonus = RM12,000
EPF contribution from employee @ 11% = RM1,320
EPF contribution from employer @ 12% = RM1,440
SOCSO contribution from employee = RM14.75
SOCSO contribution from employer = RM51.65
PCB deduction = RM1,371
Amount you'll get = RM12,000 - RM1,371 - RM14.75 - RM1,320 = RM9,294.25

Check your payslip for that.

PCB 2010 income tax deduction rate

For your information, the Inland Revenue Board of Malaysia (a.k.a. Lembaga Hasil Dalam Negeri, LHDN) has come out a new Potongan Cukai Bulanan (PCB, a.k.a. Scheduled Monthly Tax Deduction) 2010 rate.

The monthly salary deduction amount, across all taxable income categories, is now slightly lesser than the previous PCB 2009 rate.

According to the previous 2009 rate, unmarried person earning monthly income of RM2,401 and above will be taxable, and the PCB deduction for them is RM13.

With the new 2010 rate, unmarried person will be taxable only when their monthly income exceeding RM2,451, and the PCB deduction for them is RM10 (previously was RM16 under PCB 2009).

Click here to download the new Jadual PCB 2010 schedule table.

Click here to download the previous Jadual PCB 2009 schedule table.

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• How the PCB for bonus is calculated