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A high school teacher has shared a baffling payslip online which shows how loans from a microfinance have strangled their payslip, leaving them with as little as Sh13,000 to survive on every month.
According to the high school teacher’s payslip, the teacher has a basic salary of Sh39,070. This teacher then gets a rental house allowance of Sh9,600 and commuter allowance of Sh5,000. The total gross earnings at the end of the month come to Sh53,670.
According to the payslip, there are about five deductions that this teacher is subjected to every month. The teacher’s payslip is first deducted Sh2,930 for pension, KUPPET dues of Sh703 and Sh200, National Social Security Fund (NSSF) fees of Sh360, Housing levy fund of Sh592, Social Health Insurance Fund (SHIF) of Sh1,475, and Pay As You Earn (PAYE) of Sh6,704.
Then comes the loan deductions. This teacher has a loan deduction of Sh5,612 for a loan owed to Platinum Credit, another Sh4,062 for a loan at the same lender. The teacher also has a deduction of Sh2,401 on the payslip for a commercial loan owed to the KCB Bank Kenya, and a another deduction of Sh15,381 for a loan they owe Premier Kenya Limited.
The teacher’s total deductions on payslip come to a total of Sh40,635. The total deductions for the loans alone amount to a total of Sh27,456.
SEE MORE: Breakdown of a Police Constable’s payslip: gross salary, deductions, net salary
From all the total salary deductions, the teacher is left with Sh13,034 every end month. Without the loans taken, the teacher would only be deducted about Sh13,179, leaving them with a take home net pay of about Sh40,491.
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