...1 CHAPTER I THE PROBLEM AND ITS BACKGROUND Introduction Education is the development of the endowed capacities in the individual, which will enable him to control his environment and fulfill his possibilities to a major extent. Education is a fostering, a nurturing and a cultivating process and is attentive to all conditions of development. Furthermore, education is considered also a social process and implies a social framework for social individual development. Rahman and Uddin (2009) indicated that education is a basic need of human beings. It is also very important for the development of any country. Education is the responsibility of the state and government who should make every possible effort to provide it on an ever interesting and increasing scale in accordance with the national resources. In the rising seas of education’s changes, a group of people who have been increasingly affected is at the instance of a much serious array of problems regarding education. This group of people is composed of some 355 students of the Department of Economics of the Polytechnic University of the Philippines. 2 For the past years, studies regarding the status and determining factors regarding the academic performance of the students of PUP - Department of Economics were seldom done and there were insufficient information about these matters. Citations were apparent but there were no individual studies conducted to discover the determinants affecting the...
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...Employee is a person who works under a contract of service whereas self-employed is a person who works under a contract for services (Melville, A. 2011 p.84). As a self-employed person, they enjoy a wider range of tax benefits and deductible expenses when compared to employees. Self-employed are allowed to pay tax by installment and pay tax much later than employees, who normally pay income tax under PAYE system. The main criteria to distinguish two types of contracts of services or for services will be as follows: 1. Control. Self-employed people have control over their work than employee who is unable to choose whether or not to do certain work. 2. Remuneration and financial risk. The Employees will still continue to receive monthly salary or wages regardless if their employer is making profit or loss in the business, and the employees do not risk their own capital in the business. In contrast, self-employed people are being paid a separate fee for each of the jobs being carried out. They may make profit or loss or even lose their capital if they fail in their business. 3. Equipment. Self-employed do provide their own equipment but employees do not. 4. Work performance and correction. The client does not need to pay extra in order get the job satisfactory by self-employed. Whereas the employees get paid for the original work and the corrections towards the mistake done. 5. Holidays and sickness. Self-employed people do not get paid when on holiday or ill, they only get paid...
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...Extra-Credit Retirement Options available to employees without a plan provided by employer and plans available to the Self-Employed. Figuring out the details of what retirement options are available for ones’ self has become a topic of interest due to recent economic and governmental changes. To better investigate retirement options, it may be wise to deal with a scenario. If James and Dena are married, both under the age of 50, with two dependent children, and working for Daisy Inc., what options would be available to them if there was no retirement plan in place by the company? Many firms typically offer plans Qualified Pension and Profit-Sharing Plans that include 401(k) plans and stock bonus plans; however this is not the case for James and Dena. Here, this couple would need to consider Individual Retirement Accounts (IRAs). These fall under the main categories of Traditional IRAs (where there are fully deductible IRA contributions for the amounts being the lesser of $5,000 or earned income- the amount of $6,000 is not applicable to this couple due to their age), or ROTH IRAs , also known as “back loaded IRA” ( where the tax benefits are not received at the beginning of the IRA, but are realized at the end). It is generally suggested that persons go ahead with ROTH IRAs rather than Traditional IRAs as there are more benefits to be had. While James’ Traditional IRAs would grow tax-deferred, (he would not pay taxes on contributions until withdrawn, at retirement), with...
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...century, entrepreneurship becomes a new trend. Many universities and colleges offer entrepreneurship as a major. Due to government’s incentives, self-employment rate among the Malaysian undergraduates has gradually increased over the years. This study intends to examine the entrepreneurial intention among Malaysian undergraduates. Based on previous study, 99.9 percent of all businesses in the United States are small businesses, with three‐fourths representing the self‐employed, self-employed has become leading components of our economy (2006). Entrepreneurs would also be considered as job creators since they need to hire employees working for their businesses. Young undergraduate could choose self-employment as their occupation due to financially affluent background. By using the advantage of lax security and tax system for self-employed, undergraduate could decide to open their own illegitimate business or to earn more profit by avoiding tax charge. In this research, we study the scope of undergraduate students who run their own business. The main aspects that will be examined is how they run their business, what motivates them to do so, how they cope with balance of studies and business through interviewing. This study draws its concepts and findings primarily from interviews with 7 purposive respondents who are currently self-employed full time students. Based on the results of the study, the family background is quite influential to who you are. According to our findings...
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...Second career Self-employment and becoming an entrepreneur as a second career for dependent employees The responsibility for the contents of this report lies with EIM. Quoting numbers or text in papers, essays and books is permitted only when the source is clearly mentioned. No part of this publication may be copied and/or published in any form or by any means, or stored in a retrieval system, without the prior written permission of EIM. EIM does not accept responsibility for printing errors and/or other imperfections. Contents 1 Theoretical framework 7 1.1 Introduction 7 1.2 The transition process: Heuristical tool 8 1.3 Differences between start-ups: Dependent employee versus other types 10 1.4 Demarcation 11 1.5 Contents of the report 12 2 Entrepreneurship in the EU 15 2.1 Facts and figures 15 2.2 Entrepreneurs in the EU 20 2.3 Previous experience of starting entrepreneurs in the EU 24 3 Synthesis 31 3.1 Introduction 31 3.2 Legal definition of self-employed 31 3.3 General requirements related to start-ups 33 3.4 Financing the start-up of a business 34 3.5 Insolvency and seizure procedures 35 3.6 Social security systems in general 35 3.7 Social security: Unemployment 36 3.8 Social security: Sickness 39 3.9 Social security: Disability 40 3.10 Social security: Medical costs 40 3.11 Social security: Old age 41 3.12 Social...
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...The management style and employee progression are also internal factors if the company has a positive management style that enables them to build good relationships with the employees and they then recognise people who strive to better themselves and move up within the company will retain staff and create a happy and motivated team especially if they have been recruited after recent redundancies. There are many external factors that can impact on the employment relationship for example the national minimum wage vs the national living wage as an organisation you may decide that paying the national living wage might create a better staff force and attract more talent. Another external factor could be trade unions this could put a strain on the employer/employee relationship if they are not managed properly. STEEPLE is a strategic planning tool that takes into account external factors. Steeple is an acronym for Social, Technological, Environmental, Economical, Political, Legal and Ethical. All these elements can effect a business and its needs. See point 1 Appendix. There are three types of employment status, an employee, a worker or a business/Self-Employed, it is important for each party to understand under which employment status they are employed. Employees have a contract of employment and have a right to Statuary Sick Pay, company...
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...does not mean finishing in a particular field, rather it is the beginning of a real journey in the life of students. Performance in the school can be measured not only through awards received during graduation or through grades obtained, rather through works where he maybe after graduation. One of the concerns that a teacher, particularly in the college, ought to have is about his former students’ whereabouts after graduation. How are they employed now? It is not a simple case of deriving psychological satisfaction, through, from knowing for instance that a former student has hurdled a government examination or has obtained a high-paying job, or have established a viable business of his own. Perhaps what is important to him is the concern for his former students’ current situation and the disturbing possibility that failure might have filled the path of some of them. A teacher has to care. He is a torch-bearer of a system. The educational system which has the obligation from time to time to assess its performance in order to serve better the goods of society, his former students included. Changes however are a natural part of any system because education is an on-going process. A school system however satisfactorily cannot remain static. It is a living organism keenly sensitive to political, social and economic changes. A graduate’s performance is a reflection of the school from where he graduated. It is one of a determining factor whether the school is offering a quality...
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...Keywords: Graduate Employment, Self Selection Bias, Sample Selection Bias Aaron Nicholas Department of Economics, Monash University, Wellington Road, Clayton, VIC 3800 Aaron.Nicholas@buseco.monash.edu.au ABSTRACT This paper examines the probability of a recent university graduate obtaining full-time employment by degree of study. It allows for degree choice to be endogenous (self-selection bias) and adjusts for those graduates not in the labour force who are not typically considered in graduate outcome studies (sample-selection bias). The self-selection problem is able to be identified by using a unique data set that combines data from the 2005 and 2006 Australian Graduate Destination Survey with data from the University of Tasmania’s (UTAS) student administration database, which includes students’ pre-tertiary school results. Degree choice is modelled using a Nested Logit, while labour force participation is modelled using a Probit. Using a ‘Heckit’ type methodology, the Inverse Mills Ratios (pseudo-residuals) from the Nested Logit and the modified Inverse Mills Ratios from the Probit are included in the final Probit model for Employment. Both correction terms are statistically significant at 5% in the employment probability equation. Allowing for self selection significantly reduces the probability of employment for accounting, architecture, engineering and economics/finance graduates by 6%, 9%, 10% and 5% respectively, suggesting that better students select these degrees...
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...careerinfonet.com, massage therapists in the state of Oregon take home between $31,700- $84,600. Of course, the wage difference would depend on experience, successfully gaining clients, and promoting well. 4.) Massage therapists typical hours worked can be all over the place. It depends on the environment you work in. The environment can range from personal care services, offices of chiropractors, traveler accommodation, including hotels and motels, and fitness and recreational sports centers. Most massage therapists, especially if they are self-employed, provide their own table or chair, sheets, pillows, body lotions or oils. Based on bls.com, many massage therapists work part time, only about 1 out of 4 worked full time in 2010. So, a massage therapist does not have specific hours and it will vary from week to week. 5.) Benefits will be determined to whether or not you are self-employed or work for a company. If you are self-employed, then you would be taking care of your own medical, dental, vacation, you are your own boss. If you work for a chiropractor’s office, then they may offer benefits and vacation time. 6.) Based on careerinfonet.com, the prompted website from ONET, the trends are in favor for a career in massage therapy. In 2010, nationally, employment was around 153,700 and predicted in 2020 to be around 184,600, which is an increase of 20%. In the state of Oregon, the employment was around 1,300 and growth expected to hit 1,880. 7.) The education requirements...
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...PAPER Research paper on the subject of whether it’s better, as a career choice, to be an entrepreneur or work for others Is it better to be an entrepreneur or an employee? Most of the academic research focuses on finding external factors or personal qualities that create entrepreneurs. In early academic papers emphasis has been on psychology and sociology, while more recent research is focusing more on economic perspective. Overall, entrepreneurs are a minority if compared to paid employees. There are most certainly more people who choose to work for someone else rather than attempt to be an entrepreneur. Reasons behind this career choice are very different. Most obvious reason for a rational person might be financial benefits. Research done by Hamilton (2000) shows that initial earnings as well as earning growth is much larger for paid employees in the first 10 years if compared to entrepreneurs, not even including fringe benefits. However, money is definitely not the only factor that affects the career choice when it comes to a decision, whether to become an entrepreneur or to go work for someone else. If entrepreneurs are perceived as utility-maximizing individuals, then independence, risk bearing, work effort, and perquisites associated with self-employment plays a very vital role in their career choice (Douglas and Shepher, 2000). In the following parts of this research paper, various benefits and shortcoming of being an entrepreneur will be discusses in order to answer...
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...employers should set clear and transparent targets in order to make it easier for employees to know what is expected of them. If these targets are followed employees can be rewarded and this should improve the relationship between employer and employee. • Management style: there are two types of manager: autocratic and democratic. Autocratic managers make decisions without involving the staff. This can be a good idea in some circumstances (for example the need to make a quick decision to avoid catastrophe or missing a deadline or target) but if this style is used all of the time it can be detrimental to staff motivation, commitment and well-being. Democratic managers involve staff with decision making as much as possible which means everything is agreed on by the majority of staff. This can lead to increased levels of motivation, commitment and well-being which subsequently could increase the profitability of the business. External: • Economic factors: slow economic growth or a downturn can make employees just thankful they have a job. This can put pressure on them because employers may decide to increase workload by making individuals do more work in the same time. With the fear of redundancy looming and as the company has less capital employees may feel they have to work harder in order to maintain or enhance their current level of income. • Legislative factors: legislation such as the “Equality Act 2010” deal with discrimination and various other issues, both nationally and internationally;...
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...1028. One indicia of independent contractor (rather than employee) status is when the individual performing the services is paid based on tasks performed (rather than time spent). *a. True b. False 1029. In some cases it may be appropriate for a taxpayer to report work-related expenses by using both Form 2106 and Schedule C. *a. True b. False 1030. The IRS will issue advanced rulings as to whether a worker’s status is that of an employee or an independent contractor. *a. True b. False 1031. Jake performs services for Maude. If Maude provides Jake with a helper and tools, this is indicative of independent contractor (rather than employee) status. a. True *b. False 1032. A statutory employee is not a common law employee but is subject to income tax withholdings. a. True *b. False 1033. For tax purposes, a statutory employee is not treated the same as a common law employee. *a. True b. False 1034. If an individual is subject to the direction or control of another only to the extent of the end result but not as to the means of accomplishment, an employer-employee relationship does not exist. *a. True b. False 1035. The work-related expenses of an independent contractor will be subject to the 2%-of-AGI floor. a. True *b. False 1036. After she finishes working at her main job, Ann returns home, has dinner, then drives to her second job. Ann may deduct the mileage between her home and second job. a. True *b. False 1037. After...
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...of PUP graduates in terms of: 1.1 Age 1.2 Sex 1.3 Course 1.4 Civil Status 1.5 Degree earned from PUP 1.6 Employment Status 2. What is the usual length of time the respondents spend for looking a job? 3. What are the reasons behind taking a job of PUP Mulanay graduates not related to their field of specialization? 4. Being employed, what is the status of their employment in terms of the nature of company/firm where the graduates work, present position and approximate gross monthly salary? 4. What changes are needed to make the graduates competitive enough in the labor market? 5. What can be the measures to solve the problem of mismatch/unemployment confronting the graduates of PUP Mulanay? Research Design This study used the descriptive method of research using a questionnaire prepared by the Office of the Vice-President for Research and Development. The data were gathered by administering the data gathering tool to PUP Mulanay graduates, both employed and unemployed. Respondents This study covered one hundred fifteen (15) graduates of PUP Mulanay from 2004-2007 as the sample. These graduates...
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...article argues that issues related to an individual’s body image and self-esteem are related irrespective of one’s age, ethnicity, and gender. Her vindications are reinforced by the press report of 2010 by National Organization of Women which highlights that 49% of girls between 3 to 6 years are worried of being fat. There are numerous campaigns against insecurities emanating from body images. For an instant, campaigns such as Operation Beautiful advocates for positive talk on women with the aim of counteracting trends related to body insecurity (Boyle, 2010). Social Comparison Theory provides the platform for individuals to maintain...
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...it comes to your income level. The paper also talks about the main relationship between income and happiness and how having any kind of inequality can greatly affect your happiness in life. It looks into a certain situation where they look at the relationship between a family’s income and their happiness as a whole. The last section of the paper is one quite interesting because it looks into the concept of being self-employed and what effect, if any, it has on your happiness. One would think that it would cause a positive effect because you are your own boss, but the article goes into more depth with the direct and indirect ways it affects you and also on a national and individual level of self-employment. The Economics of Happiness There are two different sections for when it comes to the concept of economics and migration. The first part has to do with people migrating to another country looking for better opportunities and furthermore, in income. When they migrate from a less developed country to a more developed country, they have a belief that since it is a better economy, they will have more wealth. This belief leads them to make that first step into migrating into another country because they will be much happier. The second part of this concept is that people that are already in those developed countries do not seem to be as happy as those that have recently migrated. The Easterlin paradox is the first theory that has to do with the concepts of income and happiness...
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