The Mystery of The Payslip Revealed

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Presentation transcript:

The Mystery of The Payslip Revealed By Rachel Carey N00114657

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

The Payslip

1. Personal Details Details Include: Employee Name: Your Name Employee Number: Your Personal Number Department: The Department/Location You Work Cost: The Cost centre allocated to you Frequency: How often you get paid e.g.: M=Monthly and W=Weekly Pay Period: The Week/Month Number of the Year PPS Number: Your Personal Public Service Number Payment Date: The Date You are Paid on

2. Payment Details Description: The rate in which you are getting paid. T/N: Taxable or Nett payment indicator. Hours: The amount of hours of work you are being paid for. Value: The value of money those hours are worth to you.

3. Deduction Details Description: List of all legal and intentional contributions T/N: G = Gross Deduction applied to Gross Income and N = Nett Deduction, taken before Nett Pay. This Period: Value for this Period Balance: Year to Date Balance

4. Summary of Pay Gross Pay: Is the total amount of money you’ve earned. It is the “total taxable income” for this period. softcom.ie

4. Summary of Pay Total Deductions: The total amount of money that has been deducted from your wages for this period.

4. Summary of Pay NON-TAX ADJ: Non Taxable Adjustments. ROUNDING: If there was any rounding carried out it will be listed here. softcom.ie

4. Summary of Pay Nett Pay: The total amount of money you will receive in your payment after all deductions are made.

4. Summary of Pay Pay Method: The way in which you will receive your payment.

5. Cumulative Details GROSS PAY: Your Total earnings in the current year. NON-TAX DEDS: Your pension/PRSA and other Gross deduction contributions this year. TAXABLE PAY: Your Taxable earnings in the current year. TAX CREDIT: Your Personal Tax Credit used this year. STD. CUT OFF: Your Standard Rate Cut-Off Point used this year. TAX PAID: Tax paid (PAYE) so far this year. softcom.ie

6. Tax/PRSI Details TAX/USC Status: The tax code used to calculate your tax (PAYE). N = Normal / Cumulative Basis, W = Week 1 / Month 1 Basis, E = Emergency Basis. EMR ST PERIOD: Indicates if you started on emergency tax basis this year. TAX CREDIT TP: Personal Tax Credit's value applied. PRSI CODE: PRSI Class at which PRSI is calculated. TOTAL INS WEEKS: Total insurable weeks to date in this employment from start of the year.

7. Comments EMP'ER PRSI PER: Employer PRSI Contribution this period. EMP'ER PRSI TD: Employer PRSI Contribution this year. softcom.ie

The Payslip

References askaboutmoney.com/showthread.php?t=173682 revenue.ie/en/personal/paye-guide-employees.html#section1 softcom.ie/resources/payslip-explanation/ welfare.ie/en/downloads/SW14.pdf youtube.com/watch?v=ZWBIajGblqk