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New NSSF RATES KENYA- FEB 2023

Written by Super User
Details: Category: Uncategorised | Published: 13 February 2023 | Hits: 1259

The government has announced new NSSF rates that will take effect Feb 2023.

The Calculation:

Anyone earning below KES 18,000 as Gross pay will have their NSSF calculated this way;

Gross Salary * 6%=NSSF contribution

For example if one is earning KES 10,000 then 10,000* 6/100= 600.

Employee to be deducted KES 600 and Employer to give an equivalent amount of KES 600 .

Every amount below KES 18,000 has to be subjected to the formula above.

 

For Gross pay from 18,000 and higher, there is a fixed figure of KES 1,080 basically derived from Tier 1 @360 and tier 2 @720 giving a total of 1,080.

The employee will be deducted 1,080 and the employer to give an equivalent amount of KES 1,080 giving a total saving 0f KES 2,160

Home   NSSF New Rates Kenya Feb 2023

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