1. What is Net Salary?

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

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Gross Salary — Total salary before any deductions
• Income Tax — Amount deducted for income tax
• USC — Universal Social Charge amount
• PRSI — Pay Related Social Insurance contribution

Explanation: This calculation provides the take-home pay after all mandatory deductions in Ireland.

3. Importance of Net Salary Calculation

Details: Understanding net salary helps employees budget effectively and compare job offers. Employers use it to explain compensation packages clearly.

4. Using the Calculator

Tips: Enter all amounts in EUR. You'll need to know your gross salary and the amounts deducted for Income Tax, USC, and PRSI (typically shown on payslips).

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between gross and net salary?
A: Gross is your total salary before deductions, while net is what you actually receive after all deductions.

Q2: How are Income Tax, USC and PRSI calculated?
A: These are calculated based on your income level, tax credits, and personal circumstances. The calculations can be complex.

Q3: Are there other deductions not included here?
A: This calculator covers the main statutory deductions. Some employers may deduct additional items like pension contributions or health insurance.

Q4: Why is my net salary different from month to month?
A: Variations can occur due to changes in tax credits, bonus payments, or mid-year adjustments to tax bands.

Q5: Where can I get exact deduction amounts?
A: Your payslip should show all deductions. Alternatively, you can use the Revenue Ireland salary calculator for precise estimates.