You need to fix a certain amount as basic salary if you want to deduct PF. set a minimum number as basic salary and calculate PF on it. The remaining amount based on piece rate can be added a different component in the persons salary
Contribution is 12% of the basic salary and the current interest rate is 8.6%
Yes you can deduct standard mileage rate of 14 cents per mileage
Flat benefit formula is a method used by the company to calculate the contribution of the employer to the benefit plan of the employee. It is computed through the month of service and multiplies it by the predetermined monthly rate.
Multiplying rate by 1 and a half.
The advantages of time rate is that the employee is paid on the basis of the time that he works. The other advantage is that there is flexibility on both the employer and the employee.
Formula for contribution margin ratio = Sales – Variable cost / Sales
two times the employee's hourly rate
Defined Contribution Plan
100%. The chances the employee getting fired is in their 1st year after employment.
On time rate you are paid for the number of hours worked. On piece rate you are paid for the quantity of goods you produce.
Your employer will deduct 5.3% of your wages for Massachusetts income tax. Based on your pay rate and the W-4 you filled out, they will deduct about 28% for the Federal Government, plus SSIC.
Infection and disease.