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Resolved Question

I am offered 12000 a month but I would like to know how much will I be getting as my nett after UIF, PAYE & Provident

Will appreciate your soonest response as I must indicate if I am taking their offer, it all depends on how much I am left with after all these deductions 63 mths ago

Best Answer

UIF = 1%, therefore R120.00 per month. Tax = R1598.33 assuming that the full 12000 is taxable. You don't state what percentage you have to pay towards the provident fund. Also, the provident fund deduction is not tax deductible like a pension fund deduction, however some organisations get round this by treating it as non-contributory fund and reducing your income by this amount, hence the rider about whether the full R12000 is taxable. Assuming that your contribution is eg 7% of your earnings your contribution would be R840pm, and on a non-contributory fund your earnings would then be reflected as R11160 and your tax would be R1388.33. Your UIF contribution in this case would also reduce to R111.60. Your marginal tax rate is 25% at that earnings level (R122001 to R195000 per annum), so if you need to play with different percentages for your prov fund you would work out the tax on the differences at 25%. Very important though, in order qualify for reduced taxable earnings because of a non-contributory prov, things must reflect correctly. If they show your full salary of R12000 and then a deduction for the prov you MUST pay tax on the full amount.

Source: 25 years in payroll/employee benefits. Tax tables in head!

63 mths ago

Answers -

Less than two hands full.

63 mths ago

Your nett salary is dependent on your provident portion that you pay out. I've calculated your nett at R9000.00 per month after deductions of 23%. Your best option is to ask the company to work out your salary deductions or send you a dummy salary slip so that you can see what your take home salary will be.

63 mths ago

in the area of R9000

63 mths ago

You will have a nett of plus/minus R9,000.00.

63 mths ago

You will clear no less than 10 000, no more than 10 600.

63 mths ago

Sorry I am off duty today. Come next week!

63 mths ago

I think R9000 is the most likely.

63 mths ago

Well depending on what you pay for provident etc, you will be taking home about R8000 / R8500

63 mths ago

Ask them for a dummy payslip, that will settle any disputes at a later stage.

63 mths ago

Margaret2 got the right answer! Tax per month R 1598, if you go to www.justmoney.co.za there is a fee to use tax calculator on the front page. Just type in how much you earn and they do the rest.

Source: www.justmoney.co.za

63 mths ago

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