How to calculate salary payments?
We share with you formulas Excel in the file If how should count easily of the company Total salary expense and with him connected Taxes
1. when the company with labor in the contract It is written on the hand to be taken(Net)amount;
2. when the company with labor in the contract salary It is written on the hand to be taken amount2%of retirement including;
3. when the company with labor in the contract salary It is written taxes including.
what taxes We pay employee on salary If an employee retirement in the scheme is turned on?
1. For example Given we have information Labor of the contract according to on the hand to issue Thank you1,000Lari.every month salary in the form of We charge1,000GEL.employee on salaries and other on benefits,the company has to,that to pay20%income tax and4%retirement Account(from where2%is of the company It's an expense and2%is himself employee share).As a result of the company Total salary expense taxes including is calculated Next with the formula:
- Total salary expense
- 1,000/98%/80%*102% = 1,301.02
- income tax
- 1000/80%*20%
- retirement Account(employee share)
- 1000/80%/98%*2%
- retirement Account(of the company share)
- 1000/80%/98%*2%
That is,those case when an employee is turned on retirement in the scheme and company pays1,000GEL,additionally the company has to in total301Lari and2of white payment income tax and retirement payments in the form of.this301.02from GEL, 250Lari represents of income and51.02Lari represents of retirement.
Please see the Excel file salary calculation.xlsx
2. Often Labor from the contract based on is known salary,which contains of retirement2%-S.
For example Given we have information,when employee It's a salary1,020.408 (1,000/98%)Lari,which includes2%of retirement.every month salary in the form of We charge1,000GEL.employee on salaries and other on benefits,the company has to,that to pay20%income tax and4%retirement Account(from where2%is of the company It's an expense and2%is himself employee share).As a result of the company Total salary expense taxes including is calculated Next with the formula:
- Total salary expense
- 1020.408/80%*102% = 1,301.02
- income tax
- (1020.408/80%-1020.408/80%*2%)*20%
- retirement Account(employee share)
- 1020.408/80%*2%
- retirement Account(of the company share)
- 1020.408/80%*2%
That is,those case when an employee is turned on retirement in the scheme and company pays
1,000GEL,additionally the company has to in total301Lari and2of white payment income
tax and retirement payments in the form of.this301.02from GEL, 250Lari represents
of income and51.02Lari represents of retirement.
Please see the Excel file salary calculation.xlsx
3. When the company with labor in the contract salary It is written taxes including.
For example Given we have information,when employee It's a salary1,275.51 (1,000/80%/98%)Lari taxes including.every month salary in the form of We charge1,000GEL.employee on salaries and other on benefits,the company has to,that to pay20%income tax and4%retirement Account(from where2%is of the company It's an expense and2%is himself employee share).As a result of the company Total salary expense taxes including is calculated Next with the formula:
- Total salary expense
- 1,275.51*102% = 1,301.02
- income tax
- (1,275.51-1,275.51*2%)*20%
- retirement Account(employee share)
- 1,275.51*2%
- retirement Account(of the company share)
- 1,275.51*2%
Please see the Excel file salary calculation.xlsx
what taxes We pay employee on salary If an employee retirement in the scheme no is turned on?
when an employee retirement in the scheme no is turned on,Ms on salary and other on benefits,the company has to only income tax payment and no has to retirement Accounts Payable.
those for individuals paid on salaries,which no are retirement in the scheme involved,Total salary expense taxes including is calculated Next simple with the formula:
1,000/80% = 1,250
That is,those case when an employee no is turned on retirement in the scheme and company pays1,000GEL,additionally the company has to250Lari payment income tax in the form of.