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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
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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.