System for savings and tax management of gratuity income
US7398238B1 · kind B1 · utility
18Cited by
7References
12Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Jul 12, 2002 |
| Grant date | Jul 8, 2008 |
| Priority date | — |
| Expiry date | Aug 16, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An investment system provides for multiple employers. The employers withhold payments to employees according to preferences defined by the employee. The employer forwards the withholding to an investment account manager who manages accounts for each employee. The account manager pools the withholding from the employees and invests the money in proportion to the preferences stated by the employees in the plan. Employees may change employers without affecting their accounts. Tax information may be calculated by the system to ensure accurate gratuity accounting and tax compliance on the part of the employer.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.