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North Carolina Savings Calculator
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COMPANY NAME------>
RATE OF PAY------------->
MARKUP --------------------> Based on Average
# OF EMPLOYEES--->
Social Security Rate 7.65%
NC unemployment rate 2.50%
Wage base $ 19,300
Review Your Savings
ANNUAL COST FOR:
SALARY: $ per hour x 40 hours x 52 weeks = $
OVERTIME: $ per hour x ____ hours x ____ weeks = $
TOTAL = $
MANDATORY TAXES:
Social Security (FICA) & Medicare at 7.65% of annual salary $
* NC Unemployment at .025 of $19,300 $
Federal Unemployment at .008 of $7,000 $
WORKERS' COMPENSATION: ** 4.58% of annual salary $
** .38% of annual salary
COMPANY PAID FRINGE BENEFITS: *** 8% of annual salary $
ADMINISTRATIVE: (recruiting, hiring, & payroll costs) $
*** 12.0% of annual salary
TOTAL = $
DIVIDED BY 2080 HOURS YEARLY + $ - OT HRS = $
(Salary) (one year) (Total cost per hour)
TOTAL HOURLY RATE:
Hourly Charge Rate for One ESI Associate (pay rate x mark-up) $
Hourly Cost Savings for One ESI Associate $
Annual Cost Savings For One ESI Associate (x 2080 hours) $
Annual Cost Savings For ESI Associate(s) (x 2080 hours) $
AT A 5% PROFIT LEVEL, THIS SAVINGS WOULD BE EQUIVALENT TO THE PROFIT
OF SALES DOLLARS AMOUNTING TO. $
* Actual unemployment % rate depends on experience data
** WC % includes premium/deductible/lost time/etc.
*** Based on data from the U.S. Chamber of Commerce (12.8% average)