Your Payslip Explained

Your payslip is an important piece of legal documentation and it provides you with information about:

  • Different types of payment
  • BIK elements such as benefits provided by your employer (notional indicates it is there for tax purposes only)
  • The gross to net calculation for the period
  • Tax reliefs for the Period & YTD, e.g., pension
  • Statutory deductions, i.e., PAYE, PRSI & USC & LPT 
  • Non-statutory deductions (bike-to-work, travel tickets, union subs, savings, etc)  

View the video below of a working monthly sample of the payslip layout to help you learn to understand it.

Even though P60s are now discontinued, you can still learn how to read a one here

 

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All the best,
The Team at Jefferson