net_pay_calc_simple by xiaopangnv

VIEWS: 1 PAGES: 1

									                         ROCHESTER INSTITUTE OF TECHNOLOGY
                               Instructions for the Net Pay Calculator
The purpose of this calculator is to help you determine the impact on your net (take-home) pay if you
increase your retirement contribution percentage.
Since this work is simply to determine the impact from increasing your retirement contribution percentage,
you will not enter in all information from your paystub. Therefore, the net pay amount you calculate here
will not be the same as the net pay amount on your paystub.
NOTE: Most cells in this spreadsheet are locked so you don’t make an entry in the wrong field by
mistake. Simply use the Tab key to navigate in the spreadsheet.

 s   Print this page so you have these instructions in front of you
 s   Go to Oracle https://myinfo.rit.edu     and log in
 s   Click on RIT Employee Self-Service .
 s   Click on My Paystub and print it so you have a hard copy
 s   Go to         http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp      (click on item name for help)

On the paycheck calculator
 1 Choose the tax year and state
 2 Gross Pay : enter "Current Gross" from Oracle paystub and choose "Per Pay Period"
 3 Pay Frequency : choose either Semi-Monthly or Bi-Weekly (from Oracle paystub)
 4 Choose Federal filing status, enter number of exemptions/allowances and Additional Amount (if any)
 5 Choose State filing status, enter number of exemptions/allowances and Additional Amount (if any)
 6 Check "No" for NY SDI (if New York is the state)
 7 Choose City Tax, if any, and enter City Exemptions/Allowances, if any
 8 Leave Voluntary Deduction Section blank
 9 Click Calculate
10 Enter Net Pay amount below on Line A below

11 Click Back on the Internet browser
12 Go to Voluntary Deduction Section of paycheck calculator and choose "1" in the drop down box
                 Deduction Name: enter Additional Retirement
                 Deduction Amount: enter additional percentage you would like to calculate
                 Choose % of Gross Pay
                 Exempt From: Check Federal and State boxes
13 Click Calculate
14 Enter Net Pay amount below on Line B below
15 Enter Additional Retirement amount below on Line C below

Enter Information From Net Pay Calculator
 A. Net Pay From Calculator
 B. Net Pay From Calculator with Additional Retirement

C. Additional Retirement Contribution
D. Change in Take Home (net) Pay                                 $0.00


         Your additional contribution of      $0.00      only reduces your take home pay by $0.00

								
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