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Monthly Employee PRSI, how to calculate?

  • 29-10-2013 1:58pm
    #1
    Usjes
    Registered Users, Registered Users 2 Posts: 326 ✭✭


    Hi,

    I am trying to make sense of the figures on my payslips, as I dont think the employee PRSI looks right. So as a normal PAYE employee is this how it should be calculated:
    ((Gross monthly pay)-(127*4.333))*0.04 ?

    In particular I am wondering about the 127*0.04 part, the welfare website specifies that for A1 employees the first €127 per week is PRSI-free, does this equate to 4.33*127 per month, or might an employer deicde to use 127*4 for the first 11 months and then 8*127 in December? Also, are there any other deductions? Pension contribs are no longer deductable are they?
    Looking at my payslip it looks like too much has been deducted.

    Usjes.


Comments

  • #2
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    The 127 deduction is gone.... for A1 Its all at 4% now


  • #3
    Usjes
    Registered Users, Registered Users 2 Posts: 326 ✭✭Usjes


    Citizenpain wrote: »
    The 127 deduction is gone.... for A1 Its all at 4% now

    Indeed, I should have specified I am looking at 2012 payslips. The 127 deduction was still applicable in 2012, wasn't it, and if so is the calculation I presented correct ?


  • #4
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    Was usually 551 a month anywhere I worked


  • #5
    php-fox
    Registered Users, Registered Users 2 Posts: 168 ✭✭php-fox


    (Gross Monthly pay * 12 - 127 * 52) = total amount taxable under PRSI. (T)
    (assuming fixed monthly pay)

    T * 0.04 = total PRSI due for the year


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