Common use of Advanced Study Fund Clause in Contracts

Advanced Study Fund. The Company shall make monthly Advanced Study Fund contributions as follows: 7.5% of the Salary paid by the Company on its account and 2.5% of the Salary to be deducted by the Company from such Salary to be paid on the employee’s account, in each case up to the ceiling recognized by the income tax authorities from time to time, but not otherwise. The Employee shall bear any and all taxes applicable in connection with amounts payable by Employee and/or Company to the Advanced Study Fund.

Advanced Study Fund. The Company shall make monthly Advanced contributions on your behalf to a recognized advanced study fund (the “Study Fund contributions as follows: Fund”) in an amount equal to 7.5% of the Salary paid by and the Overtime Pay. In addition, the Company on its account and shall deduct 2.5% of from the Salary and the Overtime Pay to be deducted by the Company from such Salary to also be paid on the employee’s account, in each case up to the ceiling recognized by the income tax authorities from time to time, but not otherwise. The Employee shall bear any and all taxes applicable in connection with amounts payable by Employee and/or Company to the Advanced Study Fund.