1. What is Monthly Net Pay?

Monthly net pay is the amount an employee takes home after all deductions (taxes, social insurance, etc.) have been subtracted from their gross salary. In Ireland, the main deductions are Income Tax, USC (Universal Social Charge), and PRSI (Pay Related Social Insurance).

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Gross Pay — Total annual salary before deductions (EUR/year)
• Income Tax — Total annual income tax (EUR)
• USC — Universal Social Charge (EUR)
• PRSI — Pay Related Social Insurance (EUR)

3. Irish Tax Components

Income Tax: In Ireland, income tax is charged at 20% on income up to €40,000 (single person) and 40% on balance. Tax credits and bands vary by personal circumstances.

USC: The Universal Social Charge has rates from 0.5% to 8% depending on income levels.

PRSI: Pay Related Social Insurance is typically 4% of gross income, with some exemptions and lower rates for certain groups.

4. Using the Calculator

Tips: Enter your total annual gross salary and estimated annual amounts for Income Tax, USC, and PRSI. The calculator will divide the net amount by 12 to give your estimated monthly take-home pay.

5. Frequently Asked Questions (FAQ)

Q1: How accurate is this calculator?
A: This provides an estimate. Your actual take-home pay may vary based on specific tax credits, reliefs, and other deductions.

Q2: Where can I get exact tax figures?
A: Use the Revenue.ie PAYE calculator or consult your payslips for precise figures.

Q3: Are pension contributions included?
A: No, this calculator doesn't account for pension contributions or other voluntary deductions.

Q4: What about tax credits?
A: Tax credits are already factored into your total income tax amount.

Q5: How often should I recalculate?
A: Recalculate whenever your salary changes or at least annually as tax bands and rates may change.