Net Pay Calculator – 2028

About

This version VTES001.2023 of our payroll calculator, is a tool that allows you to get a glimpse of your take home pay after tax and statutory deductions. The tool provides a simulation as per the Kenya Context and Tax Jurisdiction.

Features

The Tool has the following features;

• Earnings – These are sections that requires you to key in your basic salary, Bonus, Overtime, Payment in lieu of leave, Overtime allowance and perdiem payments. The objective of this section is to accurately capture your earnings and derive the gross pay.
• Pension Contribution – This segment has a section that automatically computes the NSSF contribution based on the derived gross salary. You are also required to add your monthly pension contribution amount if you company/ yourself is contributing to a pension scheme.
• PAYE Computation – This segment derives the PAYE tax deductible which shall be remitted to Kenya Revenue Authority. The Net Tax amount is less all Relief as provided for by the Income Tax Act CAP 470
• Deductions After Tax – This segment enables the user to define any other deduction that shall be made from the pay slip. The user is also required to set whether the pension contribution previously declared is a check-off or non-check off. This segment also incorporates SHIF deduction as per the required rates. The SHIF amount is automatically computed based on the earnings.

The tool has a user-friendly interphase that allows you to interact with the cells directly

Significance

1. This tool provides a thorough understanding to anyone interested in understanding the Kenyan payroll taxes.
2. The tool helps Human Resource professionals to Accurately determine Employee salaries, deductions and Net Pay.
3. The tool helps tax professionals understand the shift in payroll taxes overtime and to provide tax opinion.
4.  The tool is also an important asset to job seekers who want to understand the perquisites offered to them and how they affect their overall pay slip.

System Requirements

This tool runs on Excel 2010 version and above. The tool is also optimized to run on google sheets.