Can someone calculate wages for me

giz1

Hi there I'm self employed but will need to take maternity leave next April and so I'm going to have to take on a staff member to run my shop. I currently don't have any staff I do all the hours myself so will need someone to do 10-6 Monday to Friday which is 40 hours.
can someone give me a breakdown on what their wages slip will look like and what my liability will be taking into consideration changes made in the budget this month. The rate of pay will be minimum wage of €9.55 per hour ..
I appreciate all help you can give, I'm hoping I can find someone who is willing to work I have a woman in mind who has been long term unemployed so want to try have all figures to pitch to her. Thank you

namenotavailablE

Check taxcalc.eu for Karl Grabe's simple web app or a link to my Excel spreadsheet

Assuming the employee has the following tax details for 2018:

Single person tax credits: €3,300 for the year
Standard rate band: €34550 for the year

Gross pay per week 382 (see working 1 below)

PAYE per week 12.94 (see working 2 below)
PRSI per week 8.28 (see working 3 below)
USC per week 4.44 (see working 4 below)

Net pay 356.34

Working 1: [40 hours x €9.55]
Working 2: [20% x 382 = 76.40 - 63.46 weekly tax credit]
Working 3: [4% x 382 = 15.28 - tapering credit of €7 (12-((382 pay-352 tapering threshold)/6))
Working 4: (€231 @ 0.5%)+(€141.54 @2%)+(€;9.46 @4.75%)

scheister

namenotavailabl wrote: »

Check taxcalc.eu for Karl Grabe's simple web app or a link to my Excel spreadsheet

Assuming the employee has the following tax details for 2018:

Single person tax credits: €3,300 for the year
Standard rate band: €34550 for the year

Gross pay per week 382 (see working 1 below)

PAYE per week 12.94 (see working 2 below)
PRSI per week 8.28 (see working 3 below)
USC per week 4.44 (see working 4 below)

Net pay 356.34

Working 1: [40 hours x €9.55]
Working 2: [20% x 382 = 76.40 - 63.46 weekly tax credit]
Working 3: [4% x 382 = 15.28 - tapering credit of €7 (12-((382 pay-352 tapering threshold)/6))
Working 4: (€231 @ 0.5%)+(€141.54 @2%)+(€;9.46 @4.75%)

From the OP's point of view employers PRSI 10.75% €41.07 also needs to taken into the costs.
Also the holiday pay for 7 months May to December is roughly 12 days.

namenotavailablE

Both correct points to account for.

One additional point to note: the 2018 budget added 0.1% to the employer contribution to the National training Fund which would make the employer PRSI €41.45 per week.

giz1

Thank you all for your help. it's so expensive to have any staff I don't no how some businesses stay open but I do appreciate you all taking the time to reply to me .. it's easy to see why so many In This country are sitting at home claiming social and just working the odd day.. yet others are struggling to make ends meet and get zero help or incentive to be self employed.. but anyways we keep going ðŸ˜Thanks again

exaisle

scheister wrote: »

From the OP's point of view employers PRSI 10.75% €41.07 also needs to taken into the costs.

At 10.75% (or 10.76% from January), the rate of employer's PRSI is an obscenity. It's a disincentive to employers taking on staff.

It seems to me that it would be fairer to match it to the contribution paid by employees....

giz1

exaisle wrote: »

At 10.75% (or 10.76% from January), the rate of employer's PRSI is an obscenity. It's a disincentive to employers taking on staff.

It seems to me that it would be fairer to match it to the contribution paid by employees....

Completely agree how is it feasible to have staff if cost so high