In May 2022, the team at Bethniel Fintech building the Bethniel Finance app added an E-Levy calculator to the app to help Ghanaians understand and easily find out the cost of transacting using Mobile Money. The feature got a lot of reviews and feedback due to the complexities in calculating E-Levy. The current E-Levy features allows users input the amount they intend transferring via MoMo and users get to see the service c charged by Telcos as well as the e-levy charge that comes with the transfer. The team is currently working to add on to the feature where users can determine e-levy charges involved in bank transfers.
As the team works on improving the current E-Levy Calculator to allow users determine the E-Levy involved in bank transfers, a new feature has been added to the app to keep users engaged and help them in their journey towards better personal financial management – calculating SSNIT & PAYE payments.
You can now calculate your SSNIT & PAYE payments using the Bethniel Finance app and this is very simple to do. The SSNIT & PAYE Calculators form part of the many Tools that you can use on the Bethniel Finance app. All you need to do is get the Bethniel Finance app from the Play Store or App Store.
The Social Security and National Insurance Trust (SSNIT) is basically responsible for investing funds of Ghanaians towards their pensions. SSNIT is an agency of the government of Ghana and as such invests on behalf of Ghanaians. In Ghana, statutory payments towards pension are in 3 tiers. Tier 1 is a compulsory payment to and managed by SSNIT on behalf of the employee. Tier 2 is a compulsory payment but managed by a private pensions trust company. Tier 3 is an optional payment and also managed by a private pensions trust company. You can easily calculate what your Tier 1 and Tier 2 payments should be on the Bethniel Finance app.
Pay-as-you-Earn is a tax required by law and is deducted from your basic salary at source. PAYE is an individual tax that every Ghanaian is required to pay. Taxes are revenue sources for a government and are supposed to be used to develop a country. There are some benefits for paying taxes and you will soon be able to engage experts on the Bethniel Finance app to know how to access such benefits. In the meantime, you can calculate your PAYE payments on the Bethniel Finance app
Why SSNIT & PAYE
Many workers and professionals in Ghana have no idea of what taxes or statutory payments are deducted from their salaries. In our quest to help Ghanaian workers and professionals stay ahead financially, Bethniel Finance is the go-to-app to find out what these payments are. Download the Bethniel Finance app today;
Play Store: https://bit.ly/3wkSyml
App Store: https://apple.co/2Vd251X