As mentioned in our “Payroll Effect” post in December we will be providing a number of informative posts on budgetary changes for this year.
Removal of PRSI allowance for employees
Below is a table that highlights the real effect or values on your pay from Jan 2013. It highlights the amounts you will be down if paid monthly, weekly, fortnightly, bi-monthly or 4-weekly.
It is based on the most common Class A1:
|Frequency||Earnings exceed||Net by reduced by|
The PRSI allowance applies to Class A, H and E contributors. The PRSI allowance for modified rate contributors (Classes B, C and D) amounting to €26 is also being abolished.
There will be no impact on employees with weekly earnings which do not exceed €352.
The official guide can be downloaded from DSP site here
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All the best,
The Team at Jefferson