Benin True Cost of an Employee Calculator
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Published on: 2023-04-19 10:46:30
Last modified: 2023-04-25 13:35:43
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Introduction
The true cost of an employee in Benin calculator allows you to calculate the actual cost of employing an individual in Benin when accounting for all recruitment, salary, payroll and tertiary costs like office space costs, recruitment costs in Benin and so forth. The calculator is designed for employers in Benin and those who work in recruitment in Benin. The calculator provides insight into current true staffing costs including salary remuneration and the associated costs of having the employee start/sustained at a specific place of work. The calculator is also useful for calculating the cost of a new employee in Benin.
Supported Tax Years
Discover:
- How to calculate the cost of an employee inBenin
- Benin Cost of Employee Examples
- Related Payroll Tax Tables
How to calculate the cost of an employee in Benin
There are two parts to these instructions, we explain the general features of our tax calculators in these instructions, below we discuss the instructions for using the Benin True Cost of an Employee Calculator.
Benin True Cost of an Employee Calculator - Quick Calculation Instructions
The quick calculations version of the True Cost of an Employee Calculator provides the results below the calculator and requires the minimum input to calculate the cost of an employee in 2023.
- Enter the annual Employee Salary for your employee in Benin
- Enter the annual Employee Bonus for your employee in Benin
- Click on the Calculate button.
Benin True Cost of an Employee Calculator - Detailed Calculation Instructions
The detailed True Cost of an Employee calculation allows you view detailed calculations of the recruitment costs and payroll costs associated with employment in Benin.
- To use the detailed True Cost of an Employee Calculator and tools, click on the Detailed Calculation icon in the tax calculator ribbon bar
- Note that there are 4 seperate data tabs, these are Payroll, Benefits, New Employee and Facilities. Click on a tab to see the inputs and example data. We will cover the instructions for each of these in order:
- Payroll [For payroll related costs and expenditure]
- Click on the Residency Status of your employee for tax purposes, by default we use resident tax payer status
- Select the Tax Year you wish to calculate employement and/or recruitment costs for, by default the True Cost of an Employee calculator uses the 2023 tax year.
- Enter the Salary for your employee
- Enter the total of any Bonus(es) for your employee
- [Optional] select the amount Employee Pension Contributions your employee contributes to their company pension
- Enter the Payroll overhead for your employee. This can including administration for payroll, workplace admin, training costs etc. as required.
- Select the Income period, this is the frequency that you pay your employees the amount you entered in the previous step. By default, the payroll tax calculator uses annual income.
- [Optional] Alter the Hours worked per week, this influences the calculations to define hourly pay calculations
- [Optional] Alter the Working days in the year, this affects the calculation of annual salary when selecting and Income period other than "Annual".
- Benefits [For employee benefit related costs and expenditure]
- Select the percentage rate of Employer Pension Contributions that your company contributes to the employees company pension
- [Optional] enter the cost of the Private Healthcare package you provide to your employee
- [Optional] enter the cost of the Company Car package you provide to your employee
- [Optional] Select the percentage rate of Shares that your company awards your employee
- New Employee [For recruitment related costs and expenditure]
- [Optional] enter the cost of the Vacancy Advertising package you expended (or plan to expend) during recruitment
- [Optional] enter the cost of the Employee Referral during recruitment
- [Optional] enter the cost of the Travel and Accomodation package you expended (or plan to expend) during recruitment
- [Optional] enter the cost of the Relocation package you expended (or plan to expend) during recruitment
- [Optional] enter the cost of the External Recruitment Agency package you expended (or plan to expend) during recruitment
- [Optional] enter the cost of the Tertiary Payroll expended (or plan to expend) during recruitment
- [Optional] enter the cost of the Legal package you expended (or plan to expend) during recruitment
- [Optional] enter the cost of the Administration expended (or plan to expend) during recruitment
- Facilities [For facilities and operational setup costs and expenditure]
- [Optional] enter the annual cost of Administration for the employee
- [Optional] enter the annual Office Running costs for the employee
- [Optional] enter the annual cost of Telecomms for the employee
- [Optional] enter the annual cost of Technology Resource for the employee
- [Optional] enter the annual time cost of a Line Manager for the employee
- Click on the Calculate button.
Benin Cost of Employee Examples
The following examples of employment costs in Benin for the 2023 tax year are provided to illustrate the potential costs associated with recruiting a new employee in Benin and/or to calculate the ongoing annual costs of employment in Benin.
- CFA 10,000,000.00
- CFA 12,000,000.00
- CFA 14,000,000.00
- CFA 16,000,000.00
- CFA 18,000,000.00
- CFA 20,000,000.00
- CFA 22,000,000.00
- CFA 24,000,000.00
- CFA 26,000,000.00
- CFA 28,000,000.00
- CFA 30,000,000.00
- CFA 32,000,000.00
- CFA 34,000,000.00
- CFA 36,000,000.00
- CFA 38,000,000.00
- CFA 40,000,000.00
- CFA 42,000,000.00
- CFA 44,000,000.00
- CFA 46,000,000.00
- CFA 48,000,000.00
- CFA 50,000,000.00
- CFA 52,000,000.00
- CFA 54,000,000.00
- CFA 56,000,000.00
- CFA 58,000,000.00
- CFA 60,000,000.00
- CFA 62,000,000.00
- CFA 64,000,000.00
- CFA 66,000,000.00
- CFA 68,000,000.00
- CFA 70,000,000.00
- CFA 72,000,000.00
Benin Income Tax Rates for 2023
The income tax rates for Benin were last updated on 2023-04-19 09:12:03. You can review the full tax tables for Benin here where you can also report any tax rate or tax threshold changes which require attention or alteration.
Tax Rate | Taxable Income Threshold | ||
---|---|---|---|
0% | CFA 0.000.00 | to | CFA 300,000.00 |
20% | CFA 300,000.01 | to | CFA 2,000,000.00 |
30% | CFA 2,000,000.01 | to | CFA 3,500,000.00 |
40% | CFA 3,500,000.01 | to | CFA 5,500,000.00 |
45% | CFA 5,500,000.01 | and above |
Tax Rate | Taxable Income Threshold | ||
---|---|---|---|
0% | CFA 0.000.00 | to | CFA 300,000.00 |
20% | CFA 300,000.01 | to | CFA 2,000,000.00 |
30% | CFA 2,000,000.01 | to | CFA 3,500,000.00 |
40% | CFA 3,500,000.01 | to | CFA 5,500,000.00 |
45% | CFA 5,500,000.01 | and above |