Understanding Your Payslip

Transcription

1 Understanding Your Payslip Your guide to the new Accenture Ireland Payslip Understanding Your Payslip...2 Your Payslip... 2 Your Personal and Payroll Information... 4 Payment & Deductions... 6 Your Payments... 6 Your Deductions... 7 Your Cumulatives... 8 Your Net Pay... 9 Frequently Asked Questions Contact Us

2 Understanding Your Payslip Welcome to the Irish Payroll Understanding your Payslip guide. This document is designed to help you understand your new payslip, give answers to frequently-asked questions, and provide you with contact details should you need further information or assistance. Your Payslip Your payslip is comprised of three key sections: The top section shows your personal details, and information relating to the current pay period. The central section shows all your payments and deductions for the current pay period. The bottom section shows your cumulatives a summary of your year-to-date payments from the beginning of the tax year (1 st January) through to the current pay period. An example copy of the new payslip is shown overleaf. Please note that the example payslip provided has been constructed for a fictional employee, and all payments and deductions are shown to highlight typical payments and deductions that are made. Your payslip may not include every payment and deduction shown in this example, or may include additional payments and deductions not shown here. Please contact the Irish Payroll Operations department for further information or assistance with your payslip. Contact details are provided at the end of this document. 2

3 An example payslip can be found below: 3

4 Your Personal and Payroll Information The top section of your payslip shows your personal information, and payroll information relating to the current pay period. Name Name shows your name, as held in your personnel file. In this example the employee s name is Miss Jessie Ford. Company Company shows the name of the company you are contracted to. This will always be Accenture Ireland Limited. Employee No Employee No shows your 8-digit SAP number. In this example the employee s personnel number is If the Employee No shown on your payslip is incorrect please contact Peopleline. Date Date shows the day the pay period ends. This will always show the last calendar day of the month. In this example the pay period ended on 31/03/2006. Pay day will still remain on the 28 th of every month. In instances when the 28 th falls on a weekend or public holiday, payment will be made on the last available working day before this date. In December pay day will be the last available working day before Christmas Eve. In this example the employee would have been paid on 28/03/2006. Tax Period Tax Period shows the current tax period. Each Tax Period correlates to a month of the tax year, and you will receive one payslip per Tax Period. Since the Irish tax year starts in January the pay period will always relate to the corresponding month of the year e.g. Period 11 would be the November payslip. In this example the Period is 3, since it is a March payslip. Tax Code Tax Code shows your payslip Tax Code. Your Tax Code can either be N showing that you are being taxed at the normal/cumulative basis, E showing that you are being taxed at an Emergency rate or W showing that you are being taxed on a Month 1 basis. As standard all employees should be taxed at the N normal Tax Code rate, as long as Payroll Operations have received a Tax Certificate which states that you should be taken on this basis. If your payslip Tax Code appears as either E or W please contact Irish Payroll Operations for information on how to obtain your tax certificate. PPS Number PPS Number shows your Personal Public Service number. This is a unique reference number that helps to you to gain access to social welfare benefits, public services and government information in Ireland. In this example the employee s PPS Number is T. All employees should have a PPS number. If this number does not appear on your payslip please contact Irish Payroll Operations for assistance. PRSI Code PRSI Code shows your Pay-Related Social Insurance code. PRSI contributions are social insurance contributions you pay into Ireland's national social insurance fund. This code shows the rate of PRSI that you pay. In this example the employee s PRSI Code is A1. 4

5 Department Department shows the internal Accenture cost centre to which you are assigned within your workgroup. In this example the employee s Department is Tax Credit this pd Tax Credit this pd shows your tax credit for the current period. Your Tax Credit is the amount of your Gross Taxable Pay that is exempt from taxation. This figure is defined by Irish Revenue Commission. In this example the employee s Tax Credit this period is Tax Cutoff this pd Tax Cutoff this pd shows the tax cut-off to which you will pay 20% tax for the current period. Earnings over this amount will be subject to a higher rate of tax at 42%. In this example the employees Tax Cutoff is 2, which means this amount of her Gross Taxable Pay will be taxed at 20%, and anything over that amount will be taxed at 42%. Pay Method Pay Method shows the method used to pay you your Net Pay. Your payment method will typically be BACS (Bank Automated Clearing System) which electronically transfers your net pay into your bank account. Pay Method may also appear as Cheque for New Joiners who have not submitted their bank details to Irish Payroll Operations. If your payment method appears as Cheque on your payslip your wages will not be paid to you until Payroll Operations receive your bank details as per company policy. In this instance please contact Irish Payroll Operations with your bank details. Ins Wk Ins Wk shows the cumulative PRSI insurable weeks that you have worked since the beginning of the tax year. In this case it is 13 as the employee has worked the 13 weeks of the year since 1 st January The December payslip would show 52 weeks worked. If you are a new joiner within in the year then your PRSI weeks will only show the weeks that you have worked for Accenture. This statement appears on all payslips in accordance with government legislation. It means that all pension contributions made by both you and Accenture have been remitted to the pension scheme. This statement will not be applicable if you have recently joined the company and this is your first payslip. 5

6 Payment & Deductions Your Payments The Payments section of your payslip shows all payments made to you by Accenture. Salary Salary shows how much you have been paid in the current pay period. Salary is paid as 1/12 of your annual salary, as defined in your contract of employment. In this example the employee has been paid 3, (since her annual salary is 36,000). Overtime Overtime shows overtime paid to eligible employees who worked overtime during the previous month. In this example the employee worked 10 overtime hours at an hourly rate of in the previous month, earning in Overtime pay. The hourly rate paid for overtime work is calculated in the following way: Salary / 52 Weeks / 5 working days per week / 7.5 hours per day The overtime paid is taken from the previous month s two ARTES periods, so in this instance the March pay period overtime payment of relates to overtime worked in February. VHI/BUPA BIK VHI/BUPA BIK shows any Voluntary Health Insurance or BUPA Benefits in Kind payments made by the company on your behalf, on which you have to pay tax and PRSI if you have entered the scheme. In this example the employee s VHI/BUPA BIK is The Company pay a Net amount to VHI or BUPA. This payment shown on the payslip is a grossed-up amount for tax and PRSI purposes. It is possible to recover the tax credit on the employer s portion of their VHI/BUPA contribution. An employee should contact their tax office ( to obtain a credit for the tax relief at the standard rate (20%) in respect of that premium which the employers paid on his behalf to VHI/BUPA. For further information about the VHI/BUPA BIK schemes please contact Peopleline. Total Payments (Excl Notional) Total Payments (Excl Notional) shows the total payments you have earned during the pay period, excluding notional payments. Notional payments are benefits such as Car Allowance and VHI/BUPA BIK for which you qualify, and on which you can be taxed on, but that are not paid to you directly. In this example the employee has been paid a total of , which correlates to the total of her Salary and Overtime payments, but which does not include the Car Allowance, VHI/BUPA BIK or any other notional payments which may appear on her payslip. 6

7 Your Deductions The Deductions section of your payslip shows all statutory and voluntary deductions made from your monthly Total Payments. Pension EE Pension EE (Employee Pension) shows any payments you have made into your pension scheme, if you have enrolled, and is subject to tax relief. In this example the employee has paid into her pension scheme. If you have not opted in to the company pension scheme this deduction will not appear on your payslip. If you have any queries in relation to your pension scheme membership, please contact the Pensions team; either by telephone via the Peopleline number or by at: AVC AVC shows any Additional Voluntary Contributions you have opted to pay into your pension scheme, and are subject to tax relief. AVCs are contributions to the pension s scheme you may choose to make in addition to your Pension EE payments. In this example the employee has paid in additional voluntary contributions to her pension scheme. For more information on the pension s scheme and Additional Voluntary Contributions please visit: Easi Travel Easi Travel shows deductions made if you are enrolled in the Easi Travel scheme. This amount will depend on whether you have opted to pay the travel pass back over a 1 month, 3 month or 6 month period. In this example the employee has opted to make the payment over 6 months, and has paid , which is 1/6 of her annual travel pass. This amount is taken off your Gross taxable pay before tax is calculated, and then deducted as a net pay deduction. For further information about the Easi Travel scheme please contact Peopleline. ESPP ESPP shows deductions made if you are enrolled into the Employee Share Purchase Plan. The deduction is calculated on your monthly salary and overtime, and is based on the contribution that you specified (between 1% and 10%) when you entered the scheme. In this example the employee has paid into the ESPP as the calculation is based on a 3% contribution. ESPP deductions may appear as a negative amount if you choose to opt out of the scheme once registered. Reimbursing any payments that you have already made into the plan will show as a negative deduction rather than a payment, since the company is reimbursing deductions that have already been taken rather than crediting you with new payments. For more information on the ESPP, and details of how to opt in and out of the scheme please visit: AXA Car Insurance AXA Car Insurance shows deductions made for your company car insurance, if you are eligible for this scheme and have opted into it. The deductions as shown as 1/10 of your annual Car Insurance deductions. In this example the employee has paid in AXA Car Insurance, which is 1/10 of the annual AXA Car Insurance payment. For further information about the AXA Car Insurance scheme please contact Peopleline. VHI/BUPA VHI/BUPA shows any Voluntary Health Insurance/BUPA deductions made. If you opt for single BUPA cover or VHI Plan B you will not see a deduction on your payslip because the company meets this cost in full (it is a taxable benefit). If you opt to take out additional cover, e.g. in excess of plan B on the VHI scheme and BUPA Essential Plus on the BUPA scheme, the deduction will be 1/12 of the annual cost of this cover. This deduction is taken from your Net Pay. In this example the employee has paid For further information about the VHI/BUPA scheme please contact Peopleline. 7

8 EEs PRSI EEs PRSI (Employee s PRSI) shows the Pay-Related Social Insurance you have paid during the pay period. In this example the employee has paid in pay-related social insurance for the period. Tax Tax shows the monthly amount of tax paid under the Pay As You Earn Scheme (PAYE). In this example the employee has paid in tax deductions for the March pay period. Total Deductions Total Deductions shows the total deductions that will be taken from your payments during the pay period. In this example the employee has paid a total of in deductions during the pay period. Your Cumulatives The Cumulatives section of your payslip shows all your current year-to-date figures since the beginning of the tax year. The tax year starts in January, so all year-to-date figures show the total payments made between January and the current pay period e.g. the year-to-date figures for the September 2006 payslip will show all year-to-date payments made between January 2006 and September 2006 inclusive. Gross to date Gross to date shows the year-to-date Gross Pay that you have received i.e. all your earnings since the start of the current tax year. In this example the employee has earned 9, since the start of the tax year on 1 st January Taxable pay to date Taxable pay to date shows the year-to-date total of taxable pay i.e. all earnings that you have been taxed on since the start of the current tax year. In this example the employee has paid 8, since the start of the tax year on 1 st January Tax to date Tax to date shows the total amount of tax you have paid since the start of the current tax year. In this example the employee has paid 1, in tax since the start of the tax year on 1 st January EEs PRSI to date EEs PRSI to date (Employee s Pay-Related Social Insurance to date) shows the total amount of Employee Pay-Related Social Insurance you have paid since the start of the current tax year. In this example the employee has paid in pay-related social insurance since the start of the tax year on 1 st January

9 Total PRSI to date Total PRSI to date shows the total amount of Pay-Related Social Insurance you have paid since the start of the current tax year and the total amount of Employer s Pay-Related Social Insurance. In this example the employee has paid a total of 1, into pay-related social pay since the start of the tax year on 1 st January Total PRSI is the sum of Employee s PRSI to date and Employer s PRSI to date. Employer s PRSI to date does not appear on your payslip. Notional pay to date Notional pay to date shows the total Notional pay you have been paid since the start of the current tax year. In this example the employee has paid in Notional pay since the start of the tax year on 1 st January Tax credits to date Tax credits to date shows the total Tax credits you have been allowed since the start of the current tax year. In this example the employee has been allowed in Tax Credits since the start of the tax year on 1 st January Cut-off to date Cut-off to date shows your cumulative salary cut-off since the start of the current tax year. In this example the cut-off is 7, since the start of the tax year on 1 st January AVCs to date AVCs to date show the total Additional Voluntary Contributions you have paid since the start of the current tax year. In this example the employee has paid in Additional Voluntary Contributions in to her pension scheme since the start of the tax year on 1 st January ERs Pension this period ERs Pension this period (Employer s Pension this period) shows the total amount of pension contributions Accenture have paid into your pension scheme during the current period only, even though the figure appears under the Cumulatives section of your payslip. In this example the company have paid into the employee s pension scheme during the March pay period. EEs Pension to Date EEs Pension to Date (Employee s Pension to Date) shows the year-to-date total pension contributions you have made. In this example the employee has paid into her pension scheme since the start of the tax year on 1 st January ERs Pension to date ERs Pension to date (Employer s Pension to date) shows the total amount of pension contributions Accenture have paid into your pension scheme since the start of the current tax year. In this example the company has paid into the employee s pension scheme since the start of the tax year on 1 st January Your Net Pay The Net Pay section of your payslip shows your Net Pay for the current period. Net Pay Net Pay shows the amount paid into your bank account after all deductions have been taken. In this example the employee has been paid 2, for the March pay period. 9

10 Frequently Asked Questions What day of the month will I get paid? You will continue to be paid on 28 th of every month. If this date falls on a weekend or public holiday then you will be paid on the last available working day prior to 28th. In December, payday will be the last available working day before Christmas Eve. What should if I do if I believe personal details on my payslip are incorrect? Please contact Peopleline. Details are at the end of this document. What should I do if I believe the figures on my payslip are incorrect? Please contact Payroll Operations. Details are at the end of this document. What should I do if I believe the overtime hours on my payslip are incorrect? Please contact the European Service Centre. Details are at the end of this document. Where can I get a copy of my payslip? You can request a copy of your payslip from Payroll Operations. Where can I get details on the Accenture s pension schemes? If you have any queries in relation to your pension scheme membership, please contact us via the pension help lines; either by telephone via the Peopleline number or by at irelandpensions@mercer.com. How can I change my pension contributions? If you have any queries in relation to your pension scheme membership, please contact us via the pension help lines; either by telephone via the Peopleline number or by at irelandpensions@mercer.com. Where can I get information on my tax code and PRSI number? Please visit: for tax information. Please visit: for PRSI information. What should I do if my pay is not received by my bank? If you have not received payment into your bank account you should contact Payroll Operations. Contact Us Employees are advised to retain a copy of their March payslip to compare with the new format payslip that will be distributed from April onwards. In order to avoid unnecessary queries, please compare your new payslip with the March version before contacting Payroll Operations. If you have any additional questions regarding to your payslip please contact: Payroll Operations Irish Payroll Operations 1 Harbourmaster Place IFSC Dublin payroll.ops.ireland@accenture.com For HR queries please contact: Peopleline uki.peopleline.hr@accenture.com 10