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The Mystery of The Payslip Revealed
By Rachel Carey N
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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The Payslip
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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
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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.
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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
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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
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4. Summary of Pay Total Deductions: The total amount of money that has been deducted from your wages for this period.
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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
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4. Summary of Pay Nett Pay: The total amount of money you will receive in your payment after all deductions are made.
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4. Summary of Pay Pay Method: The way in which you will receive your payment.
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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
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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.
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7. Comments EMP'ER PRSI PER: Employer PRSI Contribution this period.
EMP'ER PRSI TD: Employer PRSI Contribution this year. softcom.ie
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The Payslip
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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
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