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The world of work

National minimum wage You can’t be paid less than the National Minimum Wage. The minimum wage rate for an experienced adult employee (with over two years experience of employment and over the age of 18) is €8.65 an hour.
Trainee pay There are also special rates which apply to employees who are over 18 and taking part in recognised training on the job. These range from 75% to 90% of the Minimum Wage
Payslip All employees have the right to receive a payslip stating the gross pay, deductions, and the take-home pay (net pay) after deductions
Gross pay This is what you earn before any deductions are taken away
Deductions Money that will leave your wages when you get paid. There will be some automatic deductions from your pay such as income tax, universal social charge and PRSI
Net pay This is the wages that the employee receives after all deductions have been taken out.
PRSI If you pay this you are entitled to some social welfare benefits.
Income Tax Tax on earnings. Based on the principle that the more you earn the more you pay.
PAYE Pay as you earn. This is a tax on your income.
Progressive tax The more income you earn the more tax you pay.
Created by: moneysense



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