Payslip for a newly recruited graduate teacher using Imarisha Sacco as PayPoint after 3 years
Basic salary-35000
Commuter allowance 5000
House allowance 7500
Gross salary Ksh 47500
Deductions
PAYE 10000
NHIF 1000
Kuppet 700
Union bbf 200
Kewota 200
Provident fund 3000
Total statutory deductions 15100
Helb loans deductions ksh 5000
Further total deductions 20100
Voluntary Imarisha deductions
You may want to save for Sacco shares of 2000
Sacco deductions for welfare 400
Sub total deductions
Ksh 22500
Borrowed Imarisha take away loans ksh 900000
Ksh 300000 from these are deducted as shares
5% ksh 50000 as FOSA shares and further approximately 20K processing fee
The teacher remains with almost ksh 500K from 900K
Monthly loans deductions of 19000
Total grand deductions
Ksh 41500
Net pay 7500
The net pay after one year one borrow further in,da raja and long-term advance, the actual net pay will be less than 1000
Most teachers will be surprised to see that being a Bom teacher was better when the vicious cycle rat race of advances and the top-up of millions but what you remain with less than 100K became the norm.
Most teachers using Imarisha Sacco don’t know what white smoke is majority knows white paper of advances, the end month is torture to many.
Apart from the above the teacher has other obligations
Rent 3000
School fees differ in most instances teacher-child schooled in academies where fees range between 50k to over 100k per child per year.
Meals in at least 3 homes, workplace, actual home and parents’ home.
Paying back to society is there where the teacher is a lead person.
Dowry payments.
My advice to young teachers is that if you didn’t invest well in the first 10 years your working life will be a rat race throughout,
Real loan money is the first loan think twice about the best investment in the first loan the subsequent loans will be mainly top where you will be signing millions as loans but what will hit or be deposited in your account may be less than 200k.
Avoid toxic loans from *premiums, platinum amongst others like the plague.*
After a year is when you will appreciate the hardworking of your parents and other seniors on how they managed their finances.
Imarisha Sacco products will entice the majority, especially the high interests Daraja, ideal loans, and premium loans amongst others apart from the normal loan which has an interest rate of 12 % the rest products have interest rates beyond those of commercial banks.
May God bless and provide for the teacher.
The latest TSC Payslip provides details on the Monthly income and deductions for teachers. To get the TSC Payslip, visit the TSC Tpay Portal online.