Educational Assistance Program Employees Without Their Knowledge In Wayne
Category:
State:
Multi-State
County:
Wayne
Control #:
US-00451BG
Format:
Word;
Rich Text
Instant download
Description
The Educational Assistance Program for Employees is designed to support eligible employees in enhancing their skills through assistance for courses at approved institutions. This program specifically targets individuals who have been in employment for at least one year, allowing full-time regular employees to pursue degrees or certifications that align with their job responsibilities. Key features include tuition reimbursement based on grades received, with specific percentages allocated for each grade. Employees must obtain prior approval from their supervisor and human resources before enrolling in courses and submit documentation, including an official transcript and proof of payment, post-completion to qualify for reimbursement. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are navigating educational enhancement for their team members without their knowledge, ensuring compliance and a structured approach to employee development. It promotes a clear and supportive framework for educational funding while enforcing repayment policies should an employee leave the company within two years of receiving assistance.
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FAQ
Limit: The maximum permissible limit under Section 80C of the Income Tax Act 1961 is Rs. 1.5 lakh with deductions eligible only for two children per assessee.
For the American Opportunity Credit the education credit income limit is as follows: Single, head of household, or qualifying widow(er) — $80,000-$90,000. Married filing jointly — $160,000-$180,000.
Similar to federal law, state law provides that contributions made to a qualified tuition program are not deductible.
