credit earnings factor
Polish translation: składnik z tytułu składki zarobkowej
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| 10:02 Mar 11, 2019 |
| English to Polish translations [PRO] Bus/Financial - Insurance / Emerytury | |||||||
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|  Selected response from: Frank Szmulowicz, Ph. D. United States Local time: 10:00 | ||||||
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| 2 | składnik z tytułu składki zarobkowej |
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| Earnings Factor |
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Answers
14 hrs confidence: 
składnik z tytułu składki zarobkowej Explanation: I think that here factor is a component due to contributions from earnings. |
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Reference comments
11 hrs |
| Reference: Earnings Factor Reference information: An Earnings Factor (EF) is the amount of earnings in a tax year on which Class 1 or Special Class 2 Contributions have been paid and credited. 29. Each year an amount is set to allow for the different ways in which employers calculate the contributions due on both weekly and monthly earnings. This is called the Make Up Provision. 30. For this to apply, the EF must partly or wholly come from Class 1 contributions. 31. The EF is calculated by NPS and shown on the eNIRS2 browser, or in box 5 of form RD26: +++++++ Class 1 Contributions 18. Class 1 Contributions are based on a percentage of earnings between the Lower Earnings Limit and Upper Earnings Limit. Class 2 Contributions 21. Self-employed people pay Class 2 Contributions at a flat rate. Share Fishermen and Volunteer Development Workers pay Special Class 2 Contributions https://www.whatdotheyknow.com/request/163678/response/40476... -------------------------------------------------- Note added at 11 hrs (2019-03-11 21:58:48 GMT) -------------------------------------------------- Credits: post-1975 credited earnings (credits): overview From 6 April 1975, in line with the move away from a flat rate contribution to a contribution liability based on earnings, Class 1 credits were awarded at a standard rate equivalent to a payment of weekly earnings at the lower earnings limit in force at the time. From 6 April 1987, instead of a Class 1 credit being awarded, a person is instead credited with an amount of notional earnings equivalent to the Lower Earnings Limit (LEL) in force at the end of each pay week (Saturday to Sunday). However, “credited earnings” are normally referred to as “credits”, although this is not the term used in legislation so may not be appropriate in a formal legal document. Class 3 credits continue to be credited contributions. The customer’s NI record shows an amount of “earnings” for the period for which credits are due, and the number of “credit”. https://www.gov.uk/hmrc-internal-manuals/national-insurance-... |
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