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Breakdown of Payroll & Tax Contribution Amounts

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Disclaimer: This calculator is offered for informational and reference purposes only. Calculations are not meant to supplant or serve as a substitute for professional guidance or official tax calculations provided by the Inland Revenue Board of Malaysia or other relevant authorities.

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. 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.

Payroll summary on mobile and desktop

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.

Payrollpanda and integrated apps

 

FAQs

Some frequently asked questions...

A payroll calculator is a tool used to estimate an employee’s net pay after accounting for various deductions and taxes. It simplifies manual calculations and provides a quick estimate of employee take-home pay.

A payroll calculator typically requires users to input employee information such as salary, deductions, and tax details. Based on this input, the calculator automatically calculates gross pay, deductions for taxes and other withholdings.

Yes! PayrollPanda is regularly updated to ensure that it adheres to the latest changes in tax laws, labour regulations and statutory requirements in Malaysia, helping businesses stay up-to-date with changes in legislation and avoid penalties for non-compliance.

PayrollPanda offers a comprehensive solution designed to streamline and optimise your entire payroll process:

  1. Full Payroll Processing – PayrollPanda automates the entire payroll process, from calculating employee wages and deductions to generating payslips and managing statutory contributions.
  2. Compliance Management – Stay up-to-date with the latest contribution rates and legal requirements for calculating taxes, EPF, SOCSO and other statutory contributions.
  3. Handles Complexities – Unlike calculators limited to basic pay structures, PayrollPanda can handle intricate scenarios with various deductions, allowances, bonuses, and overtime calculations.
  4. Deeper Analysis – PayrollPanda provides a comprehensive view of your payroll data.  Go beyond just net pay estimates and gain insights into employee earnings reports, departmental cost analysis, leave and absence reports, and tax & contribution reports.
  5. Seamless Integrations – PayrollPanda integrates seamlessly with other software systems commonly used by businesses, such as accounting software, HR management systems, and time tracking tools.

Yes! PayrollPanda is a Malaysian payroll software that offers a free trial period for the first month, allowing businesses to explore all of PayrollPanda’s features, such as payroll calculations, tax calculations, statutory contributions, and reporting at no cost.

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