Before you begin
What your payslip needs to show
Use one real payslip and copy the figures as printed. Do not annualise them.
Put deductions such as a net-pay union subscription or attachment in Other deductions only if they genuinely reduce the take-home on this payslip.
Reading the answer
Understanding your take-home pay
The result is arithmetic on the payslip values you supplied, so Verdanyx does not need your marital status, spouse's income, tax-credit allocation or PPS number.
The MyFutureFund employee contribution receives no ordinary Income Tax relief, so removing that line alone raises take-home by exactly the employee contribution shown.
Boundaries
Assumptions and limitations
Working assumptions
- All entered amounts are for the same payslip and use the figures actually deducted by payroll.
- The employer matches a valid MyFutureFund employee contribution and the State adds one euro for every three euro contributed by the participant under the current statutory contribution ratios.
Where to be careful
- This reconciles a payslip; it does not decide whether payroll applied Revenue or PRSI rules correctly before producing those deductions.
- Employer and State contribution figures are gross scheme contributions before MyFutureFund's own fund charges.
Worked example
The same question, answered end to end
A monthly payslip shows €3,750 gross pay, €433.33 Income Tax, €73.57 USC, €157.50 employee PRSI and a €56.25 MyFutureFund deduction.
What was entered
- All figures come from the same monthly payslip.
- There are no additional net-pay deductions in the example.
How it is worked out
Add the deductions shown: €433.33 + €73.57 + €157.50 + €56.25 = €720.65.
Subtract €720.65 from €3,750 gross pay: take-home is €3,029.35.
Remove only the €56.25 MyFutureFund line: the same payslip would otherwise be €3,085.60.
A €56.25 participant contribution is matched by €56.25 from the employer and €18.75 from the State, for €131.25 of gross contributions before scheme charges.
What the tool returns
- Take-home on this payslip
- €3,029.35
- Take-home without MyFutureFund
- €3,085.60
- MyFutureFund take-home cost
- €56.25
Common questions
Questions about this tool
Why does this calculator ask for my actual tax, USC and PRSI deductions?
Because those are the exact payroll figures that apply to this payslip. Reconstructing them from salary and marital status can be wrong when Revenue allocations, credits or payroll circumstances differ.
Does MyFutureFund reduce my take-home pay by the full employee contribution?
Yes. The employee contribution does not receive ordinary Income Tax relief, so on an otherwise unchanged payslip its take-home impact is the contribution amount itself.
Does Verdanyx need my PPS number or Revenue login?
No. Copy only the numeric totals already printed on your payslip. Verdanyx does not need an identifier or access to your Revenue account.