Determining Employee Salary 28 March 2023 1 Min Read Last Update: 28 March 2023 Quiz Time Welcome to Determining Employee Salary Quiz You can practice as many times as you want until you get all the answers 100% right. Let's get Started LGT Services offers a comprehensive fringe benefits package, including medical aid, retirement funds, and education assistance. Moses is considering joining a competitor that offers a higher base salary but fewer fringe benefits. Which advantage might Moses lose if he leaves LGT Services for the competitor? Increased net salary Reduced tax implications Healthier and happier lifestyle Simplified benefits administration Moses is considering taking a job offer from another company that offers a higher salary but does not provide any fringe benefits. What potential disadvantage might he face by accepting this job offer? Increased job satisfaction Higher net salary Loss of valuable fringe benefits Better work-life balance LGT Services decides to implement a new fringe benefit for its employees by offering a housing allowance. What advantage might the company gain from this decision? Reduced tax implications Simplified benefits administration Enhanced recruitment appeal Increased net salary for employees LGT Services is considering implementing a piecemeal remuneration system for some of its employees. How might this change impact Moses' perception of fairness in the workplace? It may be perceived as fair if Moses is a high-output worker. It may be perceived as fair if Moses works consistent hours. It may be perceived as unfair if Moses is a high-output worker. It may be perceived as unfair if Moses works consistent hours. Moses has been promoted to a managerial position at LGT Services. As a result, his remuneration structure has been changed from piecemeal to time-related remuneration. What aspect of Moses' new remuneration structure might encourage him to focus more on the quality of his work? Increased earnings stability Less pressure to rush work Stronger incentive for productivity Easier administration Moses has been working overtime at LGT Services, and the company is required to pay him overtime wages according to the Basic Conditions of Employment Act. What is the minimum overtime pay rate that LGT Services must provide Moses? One and a half times his normal wage Double his normal wage One and a quarter times his normal wage The same rate as his normal wage If LGT Services decides to switch from a time-related remuneration system to a piecemeal remuneration system, what risk might they face regarding the quality of work produced? Higher risk of sacrificing quality Lower risk of sacrificing quality No impact on quality Improved quality due to increased productivity Moses has a gross salary of R25,000 per month at LGT Services. After deductions for employee tax, UIF, and other statutory deductions, his net salary is R20,000. What best describes the difference between Moses' gross salary and net salary? Gross salary is the total amount of money earned before deductions, while net salary is the amount earned after deductions. Gross salary is the amount of money earned after deductions, while net salary is the total amount earned before deductions. Gross salary is the amount of money earned, including fringe benefits, while net salary is the amount earned without fringe benefits. Gross salary is the amount of money earned without fringe benefits, while net salary is the amount earned, including fringe benefits. LGT Services offers its employees a pension fund as part of their fringe benefits package. How might this benefit impact Moses' financial planning for his retirement? It would reduce Moses' need to save for retirement. It would increase Moses' reliance on government support during retirement. It would decrease Moses' financial stability during retirement. It would have no impact on Moses' retirement planning. 1 out of 9 Time is Up! Time's up Like what you read? Subscribe to our Newsletter Submit Subscribe to our email newsletter to get the latest posts delivered right to your email.