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Copyright 2023 - Custom text here

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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

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ENTERPRISE RESOURCE PLANNING(ERP)

This is designed to support all of the key activities of an enterprise in an integrated fashion.

Includes:

  • Bill of Materials & Costing;
  • Financial Management;
  • CRM;
  • Sales and Purchasing;
  • Financial and ad-hoc Reporting;
  • Inventory Control;
  • Manufacturing and Distribution

FEATURES  

  • Technically very flexible.
  • User interface and User friendliness is really great.
  • Scalable; Can easily expand with the business.

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Tax Rates

PAYE

In Kenya, workers in formal employment are taxed through a deduction named Pay As You Earn (PAYE).
...
PAYE Calculator (Updated 2021 tax rates). This is what is currently being used in PAYE calculations 2023
 
Monthly Bands of Taxable Income (KES) Tax Rate
0 – 24,000 10%
On the next 8,333 25%
Remaining amount over 32,333 30%
Personal Relief: KES 2,400.00 per month

 

PAYE rates in effect from 1 January 2018:

Monthly Taxable Pay (Ksh) Annual Taxable Pay (Ksh) Rate of Tax (%)
Up to 12,298 Up to 147,580 10
12,299 - 23,885 147,581 - 286,623 15
23,886 - 35,472 286,624 - 425,666 20
35,473 - 47,059 425,667 - 564,709 25
Above 47,059 Above 564,709 30

 

NHIF

NHIF rates in effect from 1 April 2015:

Gross Pay (Ksh) Deduction (Ksh)   Gross Pay (Ksh) Deduction (Ksh)
Up to 5,999 150   40,000 - 44,999 1,000
6,000 - 7,999 300   45,000 - 49,999 1,100
8,000 - 11,999 400   50,000 - 59,999 1,200
12,000 - 14,999 500   60,000 - 69,999 1,300
15,000 - 19,999 600   70,000 - 79,999 1,400
20,000 - 24,999 750   80,000 - 89,999 1,500
25,000 - 29,999 850   90,000 - 99,999 1,600
30,000 - 34,999 900   100,000 and above 1,700
35,000 - 39,999 950      

Other PAYE parameters:

  Monthly Limit (Ksh) Annual Limit (Ksh) Effective Since
Personal Relief 1,408 16,896 1st January 2018
Insurance Relief 5,000 60,000 1st January 2007
Allowable Pension Fund Contribution 20,000 240,000 1st January 2006
Allowable HOSP Contribution 4,000 48,000 1st January 1999
Owner Occupier Interest 25,000 300,000 1st January 2017
Disability Exemption 150,000 1,800,000 10th March 2010

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Simplify employee time tracking and management on overtime and absenteeism.

Using several biometric devices to capture clocking time, our systems helps in storing the captured data and organizing it into reports on overtime and absenteeism.

When integrated with our Human Resources software, it seamlessly generates pay slips that have factored in the clocking data. 

 

 Key Features

 

  • Automatic attendance management.
  • Accelerates payroll processing directly from recording machine.
  • User profile management to ensure a high level of security in system.
  • Easy to manage and schedule shifts.
  • Enables tamper-proof, simple & cost effective data collection.
  • Helps to clarify employee attendance discrepancies.
  • Allows for integration with Payroll and HR
  • Automatically calculates and summarizes worked hours, OT hours, bonus hours, lost hours etc
  • Multi branch management.
  • Multi company management.

  

  1. IT Consultancy, Software & Hardware Acquisition and Outsources
  2. Product Costing
  3. Sunsystems Training
  4. Payroll Services
Home   NSSF New Rates Kenya Feb 2023   Uncategorised

TIME & ATTENDANCE

Simplify employee time tracking and management on overtime and absenteeism.

Using several biometric devices to capture clocking time, our systems helps in storing the captured data and organizing it into reports on overtime and absenteeism.

When integrated with our Human Resources software, it seamlessly generates pay slips that have factored in the clocking data. 

 

PAYROLL SERVICES

Payroll Outsource

For many companies, paying employees and meeting government regulations can be a lot of work.  We are here to help; give us this task as you concentrate on your core business and we will do all the statutory and other personalized payments for you. Your information is secure with us because e offer the highest standards of professionalism and integrity, we create a strong connection as we earn the confidence and trust of our clients.

  • Comprehensive service: We provide all your payroll requirements including all statutory and third party payments.
  • Personalised service: Each client has a dedicated contact person.
  • Secure and Confidential service: Data restricted to those who need it

SUNSYSTEMS TRAINING

Are you looking for an accounting job or are you an organization planning to train your new and existing staff?  Probably you need training in SunSystems Financial Management System!

We do one-on-one based training for individuals and corporate on SunSystems Modules;

  1. SunAccounts
  2. Fixed Assets Register
  3. Sales Order Processing
  4. Purchase Order Processing
  5. Inventory/Warehouse
  6. Reports
  7. Business intelligence