Fringe Benefit Formula: = Number of Employees Doing Prevailing Wage Work x Dollar Amount of Fringe Benefit Portion of Wage x Hours Worked Per Employee Per Year x Payroll Burden (%)
Fringe Benefit Definition Have you ever wondered what the real value of your work is? You work hard for your money and your fringe benefits, but have you ever wondered exactly how much that work is worth to the company that you’re devoting hours of your life to? Use this calculator to be sure of the exact amount, every time. Find out in just a few seconds, with our FREE financial calculator whether you’re really getting your time’s worth at your present job or you feel like you might want to accept that new job that was offered to you.
Why Use Our Calculator? Sure, you could do it yourself but why? When a boss tells you to get back to work or you’re pushing towards that all important deadline, do you really want to sit there with an old jeweled calculator or one of those stupid promotional calculators that has a curved middle and never seems to work right? What if you’re rushing to meet that deadline but that quiet nagging voice in the back of your head is wondering about your fringe benefits? Satisfy that random curiosity with this calculator! Our calculators take care of the formalities for you and leave those big cool looking calculators to be used by the accounting department!
How to Use Our Calculator All you need to know is four simple factors:
The number of employees that are doing prevailing wage work.
The fringe benefit portion in dollars of the work per hour.
The number of hours worked in a year.
The payroll burden as a percentage. (for instance, for 12%, just put 12 in)
Then you just press calculate and voila — instant results! In just a few tenths of a second, you will see:
Total Contribution Per Month into a Bona-Fide Plan
Your Monthly Savings
Your Annual Savings
What Could Be Easier? The numbers just appear and you have all the information you need.
Can I Share This Calculator? We highly encourage the use of the Fringe Benefit Calculator as much as possible. Download it and put it as a widget on your web site or just share it with your friends on Facebook, Twitter, StumbleUpon or other social media website. Why not let all of your friends know a quick and easy way to compute exactly how much their hard work is worth to the company they work for? Send this to the executive in your family and give them all the help they need to compute fringe benefits or just post it on a business website. Whatever you choose to do, it will make a welcome addition anywhere that means business. Using a free online calculator to compute your fringe benefits is both smart and easy. When you have a big project due but have that nagging doubt in the back of your mind as to the true value of your work, remove all doubts by using our calculator. Also check out our other free online math calculators for your mathematical needs.
How to Calculate Fringe Benefit Let's be honest - sometimes the best fringe benefit calculator is the one that is easy to use and doesn't require us to even know what the fringe benefit formula is in the first place! But if you want to know the exact formula for calculating fringe benefit then please check out the "Formula" box above.