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The PAYE system

The PAYE system. Gross PAYE. Basic Pay. Standard, Ordinary, Flat pay Pay for a regular 39 hour week Without overtime, bonus etc. Wage. Pay for work done Hourly basic eg €8.65 ph Piece rate. Salary. Fixed sum Paid weekly, fortnightly or monthly. Tax Calendar. 1 Jan – 31 Dec

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The PAYE system

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  1. The PAYE system Gross PAYE

  2. Basic Pay • Standard, Ordinary, Flat pay • Pay for a regular 39 hour week • Without overtime, bonus etc

  3. Wage • Pay for work done • Hourly basic eg €8.65 ph • Piece rate

  4. Salary • Fixed sum • Paid weekly, fortnightly or monthly

  5. Tax Calendar • 1 Jan – 31 Dec • Old calendar ran from April to March

  6. Public Sector • Teacher • Gardai • Army • Employed by the state

  7. Private Sector • Mechanic • Shop owner • Works for a private organisation or self-employed

  8. Superannuation • Pension contribution • Compulsory in Public Service • Personal Retirement Savings Accounts (PRSA) • % of Gross Pay • Deducted from Gross so that there is no tax • Tax relief

  9. Statutory Deductions • PAYE • PRSI • USC (universal social charge) – replaced income levy • Superannuation

  10. Non-Statutory • Union • Health Insurance • Credit Union savings • Social Club

  11. Gross Pay • Worked 39 hour week @ 9.50 ph • Also worked the following Overtime: • Monday 2 hrs • Tuesday 3 hrs • Thursday 2 hrs • Saturday 2 hrs • NOTE: Monday – Fri the first hour is paid time and a quarter • The second hour is paid time and a half • The third and subsequent hours are paid double time • On Saturday the first two hours are paid time and a half • The third and subsequent hours are paid double time

  12. Overtime calculation Total OT hours = 3.75+7.5+2 = 13.25 hours Total hours = 13.25 + 39 = 52.25 hours 52.25 x 9.50 = €496.38 gross pay

  13. Gross Pay

  14. Q1

  15. Q2

  16. Q3 Commission: Total Gross Pay:

  17. Q4 Commission: Total Gross Pay:

  18. Q5 Bonus: Total Gross Pay:

  19. Q6 Bonus: Total Gross Pay:

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