iamoyindamola:
Madam pension is deductible you are not suppose to add the 113000 to payment
Anyway the total gross is 169000
His netpay is 122804
Paye is 10496

Find attached as nairaland no allow document attachment

Note:
If you add the pension of 113000 as payment
The netpay is actually 130857.07

iamoyindamola:
Madam pension is deductible you are not suppose to add the 113000 to payment
Anyway the total gross is 169000
His netpay is 122804
Paye is 10496

Find attached as nairaland no allow document attachment

Note:
If you add the pension of 113000 as payment
The netpay is actually 130857.07

AkonWaLoja1:

The Gross Pay should be 1,625,000.00 as the Annual Leave Allowance is not collectibles monthly.
Meanwhile, the monthly pay is as follows:
Gross Pay= 135,415.00
Pension = 7,535.00
PAYE = 9,620.00

NET PAY= #118,260.00


However, if it is actually 1,803,000.00
Then,
GP= 150,250.00
PENSION= 7,535.00
TAX = 11,575.00

NET PAY= #131,140.00

iamoyindamola:
Madam pension is deductible you are not suppose to add the 113000 to payment
Anyway the total gross is 169000
His netpay is 122804
Paye is 10496

Find attached as nairaland no allow document attachment

Note:
If you add the pension of 113000 as payment
The netpay is actually 130857.07

julybaba:


PAYE tax is 7%

So , the calculation is correct.

He should collect 127,500 after deduction

julybaba:


PAYE tax is 7%

So , the calculation is correct.

He should collect 127,500 after deduction

Preator:


This is great. Slight modification though. Finance Act 2020 made a change to relief computation. The Gross income for relief purpose is Actual gross income less items such as Pension, NHF, AVC, Life Insurance and Interest on Mortgage.

Mercylike:
He already called the HR but she said they would discuss when he gets to office next week...

So he wants to know now before he approaches the HR to get explanation

Note: he got his first pay of 127k...and he thinks it is wrong as he expected 130k upward ..


Besides, employers pension contribution; is it supposed to be taken from the staff salary or the company pays that separate?

fils1:


127k monthly net pay is absolutely correct.
Kindly see below deduction applicable based on the figures you have;
PAYE: N11,177.62
Pension : N12,020
Net Pay: 127,052.37

Your employer is expected to contribute 10% of your monthly gross to your Pension account i.e. N15,025. While employee contributes 8% i.e. N12,020

AlexBells:

No collect the one you see, if the friend is single, 150k is a huge amount, I still prepare a nice meal with 2K here in Enugu

kaykay95:



Please can you send the Excel file to this email: trentkay95@gmail.com
special thanks brotherly

iamoyindamola:
Madam pension is deductible you are not suppose to add the 113000 to payment
Anyway the total gross is 169000
His netpay is 122804
Paye is 10496

Find attached as nairaland no allow document attachment

Note:
If you add the pension of 113000 as payment
The netpay is actually 130857.07

Mercylike:


You are calculating pension 8% on the total fee.. It is not supposed to be

You only charge pension on basic, housing and transport.. Those are the chargeable

Mercylike:
Tax matter and payroll no easy ooo. Many people are just giving different figures.. I am totally confused

He already called the HR but she said they would discuss when he gets to office next week...

So he wants to know now before he approaches the HR to get explanation

Note: he got his first pay of 127k...and he thinks it is wrong as he expected 130k upward ..


Besides, employers pension contribution; is it supposed to be taken from the staff salary or the company pays that separate?

Typing:



Guy no lie.
2k can not prepare food in Enugu. Except if it is the worst concoction. To cook a meal for one person in Enugu, one need minimum of 4k

iamoyindamola:

Correct i removed the bolded because they were not part of the OP relief

Preator:


You need to removed the pension amount also from the N1.690m before claculating the CRA

iamoyindamola:

Did you guys check the excel at all

Mercylike:
Nairalanders, my friend got a job in a depot although he didn't get the position he wanted as a logistics person.

He was paid as this is his first month..

Offer letter shows below per annum:

Basic - 650000
Transport - 240000
Housing - 240000
Telecommunications - 120000
Lunch - 125000
Medical allowance - 125000
Wardrobe - 125000
Pension - 113000
Annual leave allowance - 65000

Total is 1,803,000 million.

Monthly salary is 150000k.

Note:
1. Out of this 150k, 8% employee pension fee will be deducted

2. Employer is also expected to contribute 10%

3. Paye (i don't know the amount of paye tax on this salary)


[b]My question is; with the information above, how much is the employee supposed to collect at the end of the month .i.e Net monthly salary[/b

If the PAYE rate is 7.33% percent per month, then he or she is supposed to go home with that 127k.

So ask the HR for the deductions permitted and their respective percentage.

There may be other hidden cur apart from the PAYE cos the 7.33% seems high anyway

samwillyco1:
See money

BABAawoo47:
Are you adding pension payments to the gross ni
Why not kuku add HMO payments too...

DenreleDave:
Omo 150k for this economy no fit do anytin oooo.

How your friend dey take cope sef


He should get notin like that 135k after all deduction. Just guessing though

frankson1:




Samwillyco1, the amount you're seeing on paper won't really mean anything when it comes to actual spending so 'no reason am'

AkonWaLoja1:

The Gross Pay should be 1,625,000.00 as the Annual Leave Allowance is not collectibles monthly.
Meanwhile, the monthly pay is as follows:
Gross Pay= 135,415.00
Pension = 7,535.00
PAYE = 9,620.00

NET PAY= #118,260.00


However, if it is actually 1,803,000.00
Then,
GP= 150,250.00
PENSION= 7,535.00
TAX = 11,575.00

NET PAY= #131,140.00

livenletlive:
Hello Iamoyindamola. I am interested in your analysis on this topic. Please what's your email, let's talk.