S-parameter data is measured on an embedded device test structure, an open dummy, and a short dummy. A 4-port network of the pad set parasitics of the embedded device test structure is modeled by a parameterized netlist containing a lumped element network having at least one parameterized lumped element. The S-parameter data across a range of measurement frequencies is fitted with the parametrized netlist employing the at least one parameterized lumped element as at least one fitting parameter for the S-parameter data. Thus, the fitting method is a multi-frequency fitting for the at least one parameterized lumped element. A 4-port Y-parameter (admittance parameter) is obtained from the fitted parameterized netlist. The Y-parameter of the device under test is obtained from the measured admittance of the embedded device test structure and the calculated 4-port Y parameter.