Payroll calculation for Fixed match calculation deductions
These examples illustrate payroll calculation for fixed match calculation deductions.
The way you set up the deductions affects the deduction calculations. For these examples, the calculation type came from Deduction (PR05.1).
Deductions with calculation type of percent of employee deduction
-
Niki's 3% contribution is calculated as shown here:
$1,000.00 * 0.03 = $30.00
The company match is 50% of her deduction of $30.00 or $15.00.
(30.00 * 0.50 = 15.00)
-
Mike's 7% contribution is calculated as shown here:
$1,500.00 * 0.07 = $105.00
The company match is 25% of his deduction of $105.00 or $26.25
($105.00 * 0.25 = $26.25)
Deductions with calculation type of percent
-
Niki's 3% contribution is calculated as shown here:
$1,000.00 * 0.03 = $30.00.
The company match is 3% of her pay or $30.00 ($1,000.00 * 3.00 = $30.00)
-
Mike's 7% contribution is calculated as shown here:
$1,500.00 * 0.07 = $105.00.
The company match is 5% of his pay or $75.00 ($1,500.00 * 5.00 = $75.00)