Definition
The Total Amount Payable (TAP) represents the sum total of an employee's gross salary or wages, including any bonuses, allowances, or other forms of compensation, before any deductions or withholdings are applied. The TAP is the total amount that an employer is obligated to pay to an employee for their work performed during a specific period, such as a month or pay period. The TAP serves as the basis for calculating an employee's net salary or take-home pay after deductions for taxes, contributions, or other withholdings.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.