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Old 22nd Jan 2005, 04:38
  #6 (permalink)  
FlexibleResponse
 
Join Date: May 2002
Location: GC Paradise
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Some basing contracts pay the 15 1/2 % as additional salary in lieu of provident fund.

The down side is that the extra pay is subject to normal income tax.

The up side is that you get to keep 100% if something untoward happens in the first ten years. Heh, heh!

BTW, who has ever heard of an employer stealing back an employee's provident funds?
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