Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
RM 62,400
Employees' Provident Fund (EPF)
- RM 6,917
Social Security Organization (SOCSO) contribution
- RM 237
Employment Insurance System (EIS) contribution
- RM 94.80
Tax
- RM 1,752
Total tax
- RM 9,001
Net pay
* RM 53,399
Marginal tax rate
21.2%
Average tax rate
14.4%
85.6%
Net pay
14.4%
Total tax
Total tax
Net pay
Summary
If you make RM 62,400 a year living in Malaysia, you will be taxed RM 9,001. That means that your net pay will be RM 53,399 per year, or RM 4,450 per month. Your average tax rate is 14.4% and your marginal tax rate is 21.2%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of RM 100 in your salary will be taxed RM 21.20, hence, your net pay will only increase by RM 78.80.
Bonus Example
A RM 1,000 bonus will generate an extra RM 788 of net incomes. A RM 5,000 bonus will generate an extra RM 3,940 of net incomes.
NOTE* Deductions are calculated based on the tables of Malaysia, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.