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What does 4001 on IRP5 include/made up of?

Posted 13 August 2014 under Tax Q&A


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What does 4001 on your IRP5 include? Is it your tax portion for pension or provident fund alone or company as well? My company incl my pension& provident in my CTC even though I pay for it , so the amount in the 4001 on my IRP 5 is shows that I pay 6% for my pension /provident fund , if it CTC what about the company's portion?

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TaxTim TaxTim says:
14 August 2014 at 11:17

The company does not need to show their portion on your IRP5 as this is an expense to them and does not affect your salary. The 4001 is a deduction and therefore reduces your actual take home pay. It is shown as 4001 so SARS knows to allow for a tax deduction on your contribution.


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