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Doubt about Medical Insurance Premium - Salary calculation

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rockwell31
Junior Member
Posts: 63
Joined: Thu Jan 06, 2011 6:40 pm

Doubt about Medical Insurance Premium - Salary calculation

Post by rockwell31 » Thu Feb 21, 2013 3:03 pm

My payslip shows Medical Insurance Premium on both side 'Earnings' and 'Deduction' with same amount. Do I need to take the Gross pay as it is or deduct the insurance premium, while doing earning calculation.

Thanks for your help
Rw

rockwell31
Junior Member
Posts: 63
Joined: Thu Jan 06, 2011 6:40 pm

Moved: Doubt about Medical Insurance Premium - Salary calc

Post by rockwell31 » Fri Feb 22, 2013 9:22 am

Can anybody help on this issue pls?

Thanks.
RW

cs95tdg
Diamond Member
Posts: 3152
Joined: Sun Apr 22, 2012 6:55 pm
Location: London

Post by cs95tdg » Fri Feb 22, 2013 10:42 am

Is the Medical Insurance a taxable company benefit you receive? I.e. does the company pay the premium and you pay income tax on that premium?

If so, it would be reflected as an addition to your gross pay in your payslip to enable tax deduction. However what you claim as previous earnings would be the gross pay without the medical insurance premium as you do not receive that amount as income yourself.

scorpio_besal
Member of Standing
Posts: 279
Joined: Mon Sep 06, 2010 8:59 pm
India

Post by scorpio_besal » Sat Feb 23, 2013 6:41 pm

Only the Gross pay as it is and deduct the insurance premium, while doing the calculation.
Regards,
A Mutant Member

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