Sunday, January 18, 2015

HOW TO COMPUTE END OF SERVICE BENEFITS (ESB) IN SAUDI ARABIA




Are you working in Saudi Arabia? Do you have plans of just finishing your contract and want to know how much is your take home pay?




Sample Computation




Basic Salary = SAR 5000

Food Allowance = SAR 300

Housing Allowance = SAR 1400

Transportation Allowance = SAR 600




Gross Monthly Income = 5000 + 300 + 1400 + 600

= SAR 7300




If you work for less than 5 years in the company, just

divide the gross monthly income by 2 then

multiply by the total number of years you worked for the company




For example only 3 years of working




so SAR 7300 divided by 2 = 3650

3650 x 3 years = SAR 10950 is your ESB for 3 years




If you work for more than 5 years

for the first five years, divide the gross monthly income by 2 then multiply by 5 years

then add the gross monthly income multiplied by the years above 5 years


For example 7 years of working


SAR 7300 divided by 2 = 3650

3650 x 5 years (the first 5 years) = 18250

7300 x 2 years (the remaining 2 years) = 14600


So for 7 years 18250 + 14600 = SAR 32850 is your ESB for 7 years


So what does this mean? It means it is better to work in Saudi Arabia for more than 5 years. The longer you work, the more benefits you will take. But you will not stay in Saudi forever. So Save and Invest while you are in Saudi so that when its time to go back to the Philippines, you will have your hands full and maybe will have your own business. Be empowered. Be your own boss.


EARN MONEY NOW

EARN MONEY NOW