Calling all brainboxes - please help me with a PRSI Calculation

[OldBlueEyes]

I think it has to be calc on the monthly basis and if any overpayment at the end of the year you do have to apply for a refund. Daft but it wouldn't be the fitst daft element about this tax.

True the calc is on a monthly basis, but as the payment in question is in December (the last month of the year) and if you know the total gross annual salary to be €120,000, I would be inclined to submit the correct PRSI + health levy for the year rather than make the calc on a monthly basis and then apply for the refund.

However, if this was in the middle of the year I would use the monthly basis calc.

 

[z103]

At last we agree

Our two answers seem to be different though.

Yours is 1885.25

and mine is 1872.28

 

[asdfg]

You said

Here's what I get;

November, Paid €2600. PRSI = 133.99
December, Paid €71200. PRSI = 1738.29

Total, Paid €73800. PRSI = 1872.28

I said

At last we agree

I agree with your figures as calc above

 

[z103]

Okay,

Thanks asdfg.

 

[asdfg]

I would be inclined to submit the correct PRSI + health levy for the year rather than make the calc on a monthly basis and then apply for the refund.

I think the employer makes the returns so would have to calc on a monthly basis even if the payment is at the end of the year and the employee would have to apply for the refund.

I am open to correction in all of this. I am no expert.