Salary Calculator | Payroll Calculator

Last Reviewed: 06-May-2024 See Notes

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Pay Period _*

Basic Salary _*

₦

Housing Allowance _*

₦

Transport Allowance _*

₦

Reimbursements _*

₦

Gratuity _*

₦

Benefit-in-Kind _*

₦

Other Allowances _*

₦

Pension _*

₦

NHF _*

₦

NHIS _*

₦

Other Deductions _*

₦

Your Result

DESCRIPTION

MONTHLY

YEARLY

Basic Salary (₦)

50,000.00

600,000.00

Housing Allowance (₦)

25,000.00

300,000.00

Transport Allowance (₦)

25,000.00

300,000.00

Total Pay (₦)

100,000.00

1,200,000.00

Pension (₦)

8,000.00

96,000.00

PAYE Tax (₦)

5,540.00

66,480.00

Total Deductions (₦)

13,540.00

162,480.00

Take-Home Pay (₦)

86,460.00

1,037,520.00

Chargeable Income (₦)

56,933.33

683,200.00

Effective Tax Rate (%)

5.5400 %

Average Tax Rate (%)

9.7307 %

Marginal Tax Rate (%)

15.0000 %

Red * indicates required input.

Salary Calculator

This free salary calculator helps to calculate net salary (take-home) and personal income tax commonly referred to as Pay-As-You-Earned tax (PAYE).

NOTE: This PAYE tax computation is based on the Personal Income Tax Act 2011 of the Federal Republic of Nigeria and as amended by the Finance Acts of 2019 and 2020. Hence it is uptodate as of February 2023.
This Act determines the income tax payable by employees, sole proprietors, and partners in partnership businesses.

NHF Change

NHF calculation is now 2.5% of gross income as amended in Finance Act 2023. It is no longer just 2.5% of basic salary.

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