What does SABIC stand for?
Saudi Basic Industries Corporation
Saudi Basic Industries Corporation (Arabic: الشركة السعودية للصناعات الأساسية), known as SABIC (Arabic: سابك), is a Saudi Arabian multinational chemical manufacturing company, and a subsidiary of the state-owned petroleum and natural gas company Saudi Aramco.
What is the company SABIC?
Ranked among the world’s largest petrochemicals manufacturers, SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the company’s shares are owned by Saudi Aramco, with the remaining 30% publicly traded on the Saudi stock exchange.
What is SABIC experience?
SABIC—Basic Operation Training Program (BOTP) is designed for potential high school graduates to undergo English, technical, and theoretical training. After which, trainees will start on-the-job training (OJT) at their SABIC affiliates. BENEFITS. Monthly stipend.
What are SABIC products?
SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE, polyethylene and engineering plastics and its derivatives. Petrochemicals, SABIC’s largest strategic business unit, accounts for the bulk of the company’s total production.
What is Aramco SABIC?
SABIC will focus on petrochemicals and Aramco Trading Company will focus on fuel products. Changes reflect that SABIC is now the chemicals arm of Aramco, in line with long-term strategy. Together, Aramco Trading Company and SABIC are focused on providing a world-class products and services offering to global customers.
Does Saudi Aramco own SABIC?
Aramco today announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1 billion), equating to SAR 123.39 price per …
Which is the correct definition of basic salary?
Definition, Formula & Income Tax Basic Salary – Definition Basic salary is a fixed amount to be paid to an employee addition of any allowances or subtraction any deductions. Bonuses, overtime, dearness allowance, etc are not a part of basic pay.
How is income tax calculated for basic salary?
To calculate the take-home amount, you can use the Salary Sheet Excel Template. Income Tax is calculated based on the total take-home amount and not just basic. As it is a component of total salary, it is taxable. This is the reason companies don’t put basic higher than 40%-50% of CTC.
How are the components of basic pay calculated?
Other components of your total pay are calculated depending on your basic pay. These components include Annual Gratuity, Employee Contribution to Provident Fund or ESIC are determined according to your basic. Annual basic is the monthly basic pay multiplied by twelve months. Annual Basic = Monthly Basic X 12
How are allowances added to your basic salary?
For an home-based employee, allowances such as internet and phone usage will also be added to their basic salary. It ranges from 40% to 50% of the total CTC. It is the base of your pay structure. Other components of your total pay are calculated depending on your basic pay.