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Business-Pay Slip

  • 04-01-2011 5:34pm
    #1
    Em15
    Closed Accounts Posts: 2 ✭


    Hiya,

    Would someone be able to explain how the pay slip works in Business.
    I'm a bit confused about how to tax the PRSI and PAYE.

    Is the amount of money calculated to be PRSI, taken away from the gross pay, and then you get PAYE from that amount??

    Or do you just simply calculate the PAYE and PRSI from the Gross Pay??

    :confused:

    I'd really appreciate any help!

    Thanks! :)


Comments

  • #2
    IloveConverse
    Registered Users, Registered Users 2 Posts: 254 ✭✭IloveConverse


    Em15 wrote: »
    Hiya,

    Would someone be able to explain how the pay slip works in Business.
    I'm a bit confused about how to tax the PRSI and PAYE.

    Is the amount of money calculated to be PRSI, taken away from the gross pay, and then you get PAYE from that amount??

    Or do you just simply calculate the PAYE and PRSI from the Gross Pay??

    :confused:

    I'd really appreciate any help!

    Thanks! :)

    The PRSI is calculated from Gross Pay. It is a percentage. So if the Gross Pay is 100 and PRSI is at 20%, then PRSI is 20 euro.

    Same applies to Pay As You Earn! :)


  • #3
    Em15
    Closed Accounts Posts: 2 ✭Em15


    Is it really just that simple ?! Phewww!

    I don't know what my teacher was on. She was explaining it this long complicated way, I put in my first post.

    Thank you! :)


  • #4
    Colm!
    Closed Accounts Posts: 2,014 ✭✭✭Colm!


    Em15 wrote: »
    Hiya,

    Would someone be able to explain how the pay slip works in Business.
    I'm a bit confused about how to tax the PRSI and PAYE.

    Is the amount of money calculated to be PRSI, taken away from the gross pay, and then you get PAYE from that amount??

    Or do you just simply calculate the PAYE and PRSI from the Gross Pay??

    :confused:

    I'd really appreciate any help!

    Thanks! :)

    PAYE and PRSI are both precentages of Gross Pay, neither is deducted first. Like, if PAYE is 21% and PRSI is 4%, you're really deducting 25%.


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