Employee Benefits

SEPTEMBER 6, 2023

tax relief): £1,900 Total contribution: £3,040 Qualifying earnings (£6,240 is deducted from total earnings of £40,000): Bonus included Pensionable earnings £33,760 Employer contribution: £1,012.80 This means that neither income tax nor National Insurance will be paid on your pension contributions. Book a demo of Penfold today.

Pension 52

Pension Employment Bonuses Net Pay 52

Employee Benefits

AUGUST 8, 2023

As an employer, it’s your responsibility to contribute at least 8% towards an employee’s pension every month, typically split as: 3% from the employer 5% deducted from the employee’s pre-tax salary Paid Leave for Maternity, Paternity, and Adoption Paid leave for these life events is another statutory requirement.

Pension 52

Pension Paid Leave Parental Leave Voluntary Benefits 52

cipHR

MARCH 24, 2022

Veteran’s national insurance relief. Freeport national insurance relief. This is good news for payroll teams, particularly when we see how many changes are being introduced to the national insurance (NI) system over the next couple of years. Student loan deductions. Postgraduate loan deductions. Student loans .

Taxes 40

Taxes Payroll Deductions Deductible 40