Since the changes in the pension plan programs was implemented in Jan 2008, much confusion still exists. In the past when an employee was fired after a minimum tenure of 1 year, they were paid severance pay by the employer. Some employers had a severance pay fund that they contributed to each month in order to …
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Tax update for 2011
The following new changes/ updates will go into effect Jan 1st. 2011: 1. The 101 tax form that all employees and pensioners are required to fill out each year has been updated. The new form now includes details in section D on income from scholarships (which are exempt from income tax but must be declared). 2. Section …
Who is exempt from Social security payments ?
There are three types of income that determine the basis for Social Security and Health Tax payments: 1. salaried employee 2. self-employed 3. other income (not work related) The following are exempt from payment: 1. Housewives – provided they are married to an ensured person and that they do not work outside of their household. 2. An insured person who …
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10 days left to utilize tax benefits on kupot gemel & life insurance
If you have a life insurance policy or a kupat gemel savings account, you have 10 days left (until the end of the tax year) to capitalize on the tax benefits by making a deposit by Dec 31st. If you are self-employed use the deposit slip to claim your tax deduction when filing your taxes. …
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The self-employed and Social Security
Self-employed individuals need to pay monthly advances towards their Social Security payments. Many times their accountant will get the advances reduced or stop them altogether. While this may seem normal, it may seriously deprive the self-employed individual with regard to compensation from Social Security in case of a work-related accident. Recently, a self-employed individual sued …
labor court, scare tactics and lawyers fees
In many case where an employee or former employee sues his employer in labor court, the employer’s lawyers will try to reach a settlement by offering less than is actually owed, by using scare tactics. They will tell the employee that if the case reaches court they will ask for reimbersement of legal fees, “which …
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The common denominator of Israeli employees
Over the years I have seen just about everything in Israeli payroll. I have worked for many different clients and come across every type of employer you could think of. There were those who were willing to pay a lot for things to get done as long as they didn’t have to deal with any …
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Why do I need recomendations ?
o.k. let’s face it, everyone likes to be complimented. It’s part of human nature. And when we do a good job, we have earned the praise. After a while it’s usually forgotten. When an employee is terminated, in most cases they are not going to get a recommendation letter, so it is always good practice …
What not to say at work
people spend more time at work than anywhere else and as a result sometimes get too comfortable with their colleagues. The best advice is not to contradict superiors for any reason, do not say things that you wouldn’t want heard (you never know who may be listening) and do not discuss politics, religion or sex. …
Is bereavement leave mandatory ?
Well, here’s the thing. As strange as this sounds, there is no law that forces employers to pay employees who were on bereavement leave for family members. Now, most employers in the private sector are sympathetic and will pay the days in full even thought they may not be obligated to by law. An employee’s …