Help me work out the difference between class A and class S PRSI on income?

I wonder if anyone could help me figure this out?

I'm trying to work out the difference in prsi paid between
A)a single person (with single person tax credits only) either being an employee, and paying A class PRSI,
B)or being self employed, paying S class PRSI, on a salary/income of (eg) 100,000.

I don't know if I'm working it out properly from the revenue site (including health levy).

It looks like (to me ) an employee pays approx 6000+1250=approx7250 (figures rounded)
For self employed 4500+ 1750=6250 approx.

I thought the reason that there is a big difference in social welfare benefits for class S PRSI was because the rates paid were much lower. From my calculation, they are lower, but not to the degree that I would have expected.


Can anyone help me with my calculations please, and I don't think I am working them out properly and can't get my head around it .

Thanks for any help

Nicola

The employer is also paying 10.5% for the employee in scenario A, which is where the main difference comes from

There is also the employers contribution to take into consideration (about 10%).

Oh: So is there actually very little difference to the self employed person/employee then?

I have been self employed for some years, and I thought I was paying a much lower rate of PRSI.
Is this incorrect?

Nicola
(thanks for replies)

NicolaM said:

Oh: So is there actually very little difference to the self employed person/employee then?

I have been self employed for some years, and I thought I was paying a much lower rate of PRSI.
Is this incorrect?

Nicola
(thanks for replies)

Click to expand...

If you strip away the Levies/Health Contrib which everyone pays ( over certain levels of income) then the actual PRSI on class A is 4.5 % and on class S is 3%. Both of these are the employee's pension contribution. It is the employers A rate contribution which provides for Jobseekers Benefit, Illness Benefit etc.

Don't forget that there is a ceiling on PRSI contributions for an employee (not the employer's contribution), but not for a self-employed person.