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The amount you are legally required to pay is 7.65% of the employee's pay. That is the matching amount for social security and Medicare.
Everything else is optional and up to you if you want to take the risk.
Well, this is true. But if you aren't providing health insurance and other benefits, good luck getting quality people to work for you even in this economy.
Mostly it depends on reading the question actually asked... then answering THAT.
Actually, I did read the question. But the question in and of itself is vague. A $15-an-hour worker might be a burger flipper or janitor. Or she could be full-time clerical worker fresh out of high school. Depending on the geographic market, $30,000 could be a pretty adequate starting salary. Who knows? In that situation, once you add in healthcare and benefits, that $30,000 salary could suddenly become $38K.
I really don't want to go into details as to why I need this information, but the only question I've asked for is the basics required by law. I know there are other expenses that are a vital part of an employer's expense of having an employees. I only want what's required by law paid by the employer. Medicare, social security, unemployment insurance, workman's comp for a relatively low skill, low risk job. (Have I missed anything?)
Some of you are giving me much more information than I need. I know you are trying to be thorough and I appreciate it, but by throwing it in, it skews the data that I actually need.
So, for the above mentioned, what is a reasonable percent on top of the employee's salary that the employer must pay?
Well, I guess my work here is done. I don't dare ask for clarification.
We'll pardon me all to hell.... but just exactly was not clear?
Quote:
Originally Posted by MrRational
10-15% should cover the basics.
Quote:
Originally Posted by MrRational
SS/FICA, Unemployment (rates vary) and Workmans Comp (rates vary)
For the basics (absent other information not presented) 20% is an UPPER limit to budget.
10-15% really should do it.
Well, I guess my work here is done. I don't dare ask for clarification.
Since I was looking for a consensus and was given numbers from 7.65% to 40% that's just vague enough to get me, well, uhm...nowhere.
Nevermind; I'll ask my accountant.
Okay. Let's start with this. Is this full-time or part time? If it isn't full time, is it more than 30 hours a week? Are we talking clerical, fry cook, or ditch digger? I promise that we're not going to reveal your biz secrets here.
OP, the paycheck that goes home with your employee is about 1/2 the cost of having him.
You get to pay taxes and disability and unemployment insurance on him. Then, with the new health care laws, health insurance isn't going to be optional.
You have to pay to train him. You have to pay someone to do all the paperwork that is involved with having employees (or spend your own hours, which are not free). Then, unless you are there full time, you have to pay someone to supervise the workers.
At the end, when he leaves, you will have to make the unemployment payments to him until he finds another job.
Screen carefully before you hire someone. A mistake there can cost you a bunch. Not even counting the customers you might lose if your employees are rude or incompetent, or the cost of employee theft.
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