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[original post edited to removed username and signature which could identify the employee - given that salary and other details of a 3rd party are being discussed.]
Hi there,
I have a small business and recently hired my first employee. I need to produce a payslip with their paycheque and would like some advice.
Their salary is E43,000, paid monthly (x12).
They are Single, no Kids, no Mortgage,
no Pension, no VHI, no BIK,
no Tax Credits due.
I figure their monthly payslip should show:
GROSS - E 3,583.33
PAYE - E 778.33
PRSI - E 118.92
NETT - E 2,686.08
DEDUCTIONS - E 0.00
TAX CODE - A1
Insurable weeks - 4
1. Are my figures correct?
2. Is the Tax Code right?
3. Am I right in making (12 x monthly payments) or should it be (13 x 4-weekly payments)?
4. In coming months do I just multiply these base figures by number of months worked to populate the 'Year to Date column'? e.g. in month 5 shows PRSI at E594.60 (5x 118.92).
5. How do I handle 'Insurable weeks'? With 52 weeks in weekly as opposed to 48 by monthly...
How do I account for 4/5 week months, etc?
6. Anything else I'm missing?
Thanks in advance.
[removed]
Hi there,
I have a small business and recently hired my first employee. I need to produce a payslip with their paycheque and would like some advice.
Their salary is E43,000, paid monthly (x12).
They are Single, no Kids, no Mortgage,
no Pension, no VHI, no BIK,
no Tax Credits due.
I figure their monthly payslip should show:
GROSS - E 3,583.33
PAYE - E 778.33
PRSI - E 118.92
NETT - E 2,686.08
DEDUCTIONS - E 0.00
TAX CODE - A1
Insurable weeks - 4
1. Are my figures correct?
2. Is the Tax Code right?
3. Am I right in making (12 x monthly payments) or should it be (13 x 4-weekly payments)?
4. In coming months do I just multiply these base figures by number of months worked to populate the 'Year to Date column'? e.g. in month 5 shows PRSI at E594.60 (5x 118.92).
5. How do I handle 'Insurable weeks'? With 52 weeks in weekly as opposed to 48 by monthly...
How do I account for 4/5 week months, etc?
6. Anything else I'm missing?
Thanks in advance.
[removed]