Quick Answer: What Is Basic Salary Kenya?

Is 30000 a good salary in Kenya?

“KSh 30,000 salary should be more than enough for a fresh graduate in Kenya.

Remember for graduates it is not about the money but the experience that will matter.

If you get a job that is giving you 30K and you are not sure if to take it, think about the opportunities it is giving you,” she says..

Which is the highest paying job in Kenya?

The Highest Paying Jobs in Kenya todayFinance. They are some of the most important players in many companies. … Medicine. Medicine is a well-paying job with high market value, what with medical graduates earning right after internships. … Piloting. A pilot’s profession is a highly paid one. … Architecture. … Politics. … Actuarial Science. … Law. … Engineering.More items…

What is fixed salary?

Fixed salary is described as a guaranteed monthly wage paid to the employee for his/ her minimum services to the organization. Fixed salary and variable salary combined together gives the total annual salary but the fixed pay is a monthly basis pay whereas variable pay is paid quarterly, half yearly or yearly.

What is the basic pay per hour?

Current rates are as follows: For those aged 25 and over, the hourly rate is £8.21 (now known as the National Living Wage) For those aged between 21 and 24, the hourly rate is £7.70. For those aged between 18 and 20, the hourly rate is £6.15.

How much is HRA of basic salary?

9,700; or. Actual HRA offered by the employer = Rs. 15,000; or. 50% of the basic salary = 50% of Rs….How is House Rent Allowance (HRA) Calculated?Salary ComponentAmount (Rs.)Basic23,000HRA15,000Conveyance3,000Medical Allowance1,2502 more rows•Apr 19, 2020

What is CTC salary?

Gross Salary: Subtract gratuity and the employee provident fund (EPF) from Cost to Company (CTC), the amount that you get is your Gross Salary. It is the amount that you get before deduction of income taxes and other deduction such as bonus, overtime pay, holiday pay etc.

What is considered a good salary in Kenya?

A person working in Kenya typically earns around 147,000 KES per month. Salaries range from 37,100 KES (lowest average) to 656,000 KES (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

What do you mean by basic salary?

Basic salary is the amount paid to an employee before any extras are added or taken off, such as reductions because of salary sacrifice schemes or an increase due to overtime or a bonus. Allowances, such as internet for home-based workers or contributions to phone usage, would also be added to the basic salary.

What is the difference between minimum wages and basic salary?

The minimum wage consists of the basic wage and a number of allowances, e.g. for shift work and irregular working hours. Some income components, such as overtime pay, are not included in the calculation of the minimum wage. Your payslip will state the statutory minimum wage payable to you.

Who is the highest paid in Kenya?

Top 10 Highest Paid People in Kenya 20201 1. Joshua Oigara – KCB Group CEO.2 2. Gideon Muriuki – Coop Bank CEO.3 3. Andrew Cowan – EABL boss.4 4. Peter Ndegwa – Safaricom CEO.5 5. Allan Kilavuka – Kenya Airways CEO.6 6. Jeremy Awori – ABSA Bank CEO.7 7. Benson Wairegi – Britam CEO.8 8. James Mwangi – Equity Bank CEO.More items…

What is the minimum basic salary?

For instance, if an employee has a gross salary of Rs. 40,000 and a basic salary is Rs. 18,000, he or she will get Rs. 18,000 as fixed salary in addition to other allowances such as House rent allowance, conveyance, communication, dearness allowance, city allowance or any other special allowance.

How the basic salary is calculated?

Here the basic salary will be calculated as per follows Basic Salary + Dearness Allowance + HRA Allowance + conveyance allowance + entertainment allowance + medical insurance here the gross salary 594,000. The deduction will be Income tax and provident fund under which the net salary comes around 497,160.