INSTITUTIONAL TRAINING | IN HOUSE TRAINING | OVERSEAS TRAINING |
---|---|---|
Individual certificate of attendance Invoice and receipts of fees paid. |
Evidence of Salaries paid to trainers. Evidence of expenses on course materials And/or Bank Advice if payment is made in foreign currencies. |
Invoice and receipts of
Bank Advice if payment is made in foreign currencies. |
» For In House and Overseas Training,in addition to the above, individual certificate of attendance to the course including MQA /TEC approval must be provided. |
% EMPLOYER'S TAX RATE | % HRDC GRANT REFUND |
---|---|
22.5% | 52.5% |
15% | 60% |
0% | 75% |
A. Grant Refund Formula per financial year
Annual Levy paid | Maximum Grant Refund per year |
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(i) Up to Rs20,000 | 10 times levy paid |
(ii) Above Rs20,000 and up to Rs100,000 | 5 times levy paid subject to a maximum limit of Rs300,000 (however for the first Rs20,000, the grand paid will be as per above) |
(iii) Above Rs100,000 | Twice levy paid (however for the first Rs100,000 the grant paid will be as per above) |
Examples of Grant Ceiling per financial year
Examples ( Annual Levy paid and Grant ceiling computation) | Maximum grant refund per year |
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(1) Levy contribution of Rs 15,000/- ( Rs 15,000/- X 10 =Rs 150,000/- ) |
Rs 150,000/- |
(2) Levy contribution of Rs 50,000/- First Rs20,000 X 10 = Rs 200,000/- Balance Rs 30,000 X 5 = Rs 150,000/- Total = Rs 350,000/- |
Rs 300,000/- |
Grant refund limited to Rs 300,000/- | |
(3) Levy contribution of Rs 500,000/- First Rs100,000 = Rs 300,000/- Balance Rs 400,000 X 2 = Rs 800,000/- Total = Rs 1,100,000/- |
Rs 1,100,000/- |
(4) Levy contribution of Rs 1,500,000/- First Rs100,000 = Rs 300,000/- Balance Rs 1,400,000 X 2 = Rs 2,800,000/- Total = Rs 3,100,000/- |
Rs 3,100,000/- |