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Employee Cost Calculator 1

Employee Cost Calculator

Estimate the total cost of hiring and maintaining employees

1. Salary

2. Benefits

3. Taxes

4. Additional Costs

5. Summary

Currency:

Salary Type:

Annual Salary: $50,000

Hourly Wage: $25.00 Hours per Week:

Average Overtime Hours per Week:

Overtime Pay Rate Multiplier:

Monthly Health Insurance Premium (Employer Share): $500

Retirement Plan:

Employer Match Percentage: % of salary

Paid Time Off (PTO) Days per Year:

Federal Income Tax Withholding Rate: % of salary

State Income Tax Withholding Rate: % of salary

Employer Payroll Taxes (Fixed Rates):

Social Security: 6.2% of salary

Medicare: 1.45% of salary

FUTA: 0.6% on first $7,000

SUTA: Varies by state (default 2.7%)

Equipment & Workspace Cost (One-time): $2,000

Training & Onboarding Cost (Annual): $1,000

Recruitment Fees (One-time): $0

Other Annual Costs: $0