Net Pay not adding up?

mich

I'd just like to confirm if I understand this properly as the math isnt adding up for me.

Is net pay the amount we are meant to pay the employee after we have deducted taxes, super and allowances? Because when I subtract these numbers on a calculator it doesnt seem to equal the net total and I'm confused why.

By my thinking it should be $5000 (gross) - tax (932) - super (525) which equals 3543. However the net total is saying $4068.00

What am I missing?

Rav

Hi Mich

The net total figure that you see on that screen is earnings - tax ie. $5000 - $932 = $4068.00

The super component has separate treatment and is a component that is calculated from the employee's earnings.

mich

So considering that super is sent off to their superfund as a separate transaction, does this mean that their take home pay would be $3543 (4068.00 - 525)?

I was understanding net pay to mean what the employees take home pay is after super, taxes etc have all been deducted.