The Payslip is a note that accompanies salary or wage payment. It lists a breakdown of all payments and deductions made in this payroll period, which together make up your NET (take-home) pay. To better understand how pay including basic pay, benefits, and adjustments are worked out, the payslip is split into separate sections as outlined below with each section explained separately.
1. Personal Details
Under the personal details section, you will find all of your personal information.
Name: Your name.
Address: Your registered address.
ID No: Your ID number.
SS No: Your Social Security number.
2. Employment Details
Under the employment details section
Company: The name of the company under which you are employed. This is used for internal processing.
Department: The department under which your account has been registered. This is used for information purposes only.
Section: The department section under which your account has been registered. This is used for information purposes only.
Unit: The section unit under which your account has been registered. This is used for information purposes only.
Grade: Your salary grade. This is used for information purposes only.
Emp. Code: The code used by the system to identify you as a payee. This code might be required when enquiring about payslip issues.
Roll(s): The payroll number. This code might be required when enquiring about payslip issues.
Pay Date: The date on which you should expect to be paid.
Roll Period: The period of time covering your employment for which you are being paid
3. Fringe Benefits
Fringe Benefits earned to date (including this payroll). The IRD (Inland Revenue Department) defines Fringe Benefits as "any benefit provided or deemed to be provided by reason of an employment or office. The basis for the taxation of fringe benefits is article 4(1)(b) of the Income Tax Act, which applies to all gains or profits derived from an employment or office, regardless of whether they are received in cash or in kind and whether they are received in terms of the normal conditions of the contract of service or by way of a special or ex gratia allowance".
To this end, Fringe Benefits are split into 3 categories:
- Category 1 - Car Benefits which includes use of cars, vans or cash allowances related to such
- Category 2 - Use of assets, accommodation and related costs
- Category 3 - Other benefits including transfers of assets at subsidised prices, low-interest rate loans, bill reimbursement
4. Leave Balances
Leave Balances is an information-only field showing you the number of leave days you have left until the end of the payroll year.
5. Totals to Date
Totals to Date shows Gross Pay earned from beginning of payroll year to date and any taxes and social security contribution paid. Tax Arrears list any balances due to the Inland Revenue Department accumulated during your current employment.
Salary is your basic salary due for the Roll Period as explained in Employment Details. Multiple items as shown in the example above indicates hours worked at different rates.
Allocated rewards from the Time & Attendance module are itemized in this section of the payslip.
Leave taken during the roll period is listed here, along with the rate it is paid at, separately from the hours listed in the Salary section.
8. Fringe Benefits (as cash)
Fringe Benefits which are given as cash, example cash for use of own car. 50% of Fringe Benefits given as cash are taxable up to a maximum of Eur2,340. Any amount over and above the maximum is fully taxable.
Eligible employees may be paid an overtime rate for any hours worked over an above their normal hours. Any hours listed as overtime appear in this section separately from the hours listed in the Salary section.
10. Pre-Tax Adjustments
Pre-Tax adjustments are any adjustments that are applied to your pay before tax is deducted. This means that any adjustments listed here are taxed.
11. Gross Pay
Gross Pay is your pay before TAX and SSC contributions are deducted and Post-Tax adjustments applied. The non-taxable amount of Eur100 is half of the Fringe Benefit listed in point 8.
12. Fringe Benefits (in kind)
Fringe benefits which are given in kind are any benefits which are not given as cash. Whilst still taxable according to the schedule described in point 4, they are not part of the Gross Total since they are not given as cash.
13. Post-Tax Adjustments
Post-tax adjustments are any adjustments made after tax is paid. Adjustments listed here are not taxed example refund of expenses.
14. Withholding Tax
Withholding Tax is the tax payable against your Gross Pay according to FSS deduction methods.
15. Social Security Contributions
Social Security Contribution (previously known as National Insurance (NI)) includes any SSC due during this pay period. SSC is paid every Monday.
16. Net Pay
Net Pay is your take-away pay which is what you will effectively be taking home after all taxes and adjustments are accounted for.
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