FREE Payroll Calculator 2024

What Can a Payroll Calculator Do?

Estimate Net Pay:

• You enter the employee’s gross monthly salary, tax residency status (e.g., resident, non-resident), and additional details like age group.
• The calculator then estimates the respective deduction amounts.
• This gives you a preliminary idea of the employee’s net pay, which is their gross salary minus all deductions.

Streamline Calculations:

• It eliminates the need for manual calculations and spreadsheets, saving you time and effort.

Gain Insights:

• It allows you to see the impact of deductions on employee pay. This can be helpful for:
  Setting salary ranges during discussions with potential hires.
• Budgeting payroll expenses.
• Understanding the breakdown of employee compensation.

What Can you Calculate with our Malaysian Payroll Calculator?

Our Payroll Calculator is a helpful tool to estimate the net pay (take-home pay) of Malaysian employees. It factors in the mandatory deductions and contributions required by Malaysian labour law, giving you a clearer picture of what your employees receive after taxes and contributions.

How To Use a Payroll Calculator?

1. 1. Enter your gross monthly salary.
   2. Select your residential status (Malaysian, Permanent Resident, or Non-Malaysian) and age group (below 60 or 60 & above).
   3. Click on “Calculate“.
   4. The calculator will then automatically calculate the respective employee and employer contribution amounts for EPF, SOCSO and EIS. It’s that easy!
      

We also have a FREE SOCSO calculator, EPF calculator and EIS calculator for your convenience!

PayrollPanda Streamlines Your Payroll Process

Say goodbye to manual calculations and excel spreadsheets. With PayrollPanda, payroll calculations are automated, accurate, and hassle-free. Sign up for a FREE trial of PayrollPanda today and experience the ease and efficiency of automated salary calculations firsthand.

Compliance Made Easy

Keep up with the ever-changing tax landscape in Malaysia. PayrollPanda automatically applies the latest contribution rates and tax regulations, ensuring you stay up-to-date with changes in legislation and avoid penalties for non-compliance.

Drill Down into Details with Enhanced Reporting

Gain insights into payroll costs with comprehensive reports generated by PayrollPanda. Filter data by department, employee group, pay period, or other relevant criteria to analyse individual employee earnings, deductions, and net pay over various periods.

Seamless Integrations with Accounting Software

Streamline your workflow and eliminate the hassle of duplicate data entry with our payroll integrations. Effortlessly connect PayrollPanda to your existing accounting software, like Xero or QuickBooks. Now you can focus on what matters most – managing your business.