Employer cost for hiring you

Hello everybody.

Does anybody knows the approx cost a employer has for hiring?

For example lets say the employee has a annual salary of 700k NTD…what would be the cost the company needs to pay for (beside the salary of course).

I am from Spain and i know the company needs to pay in taxes etc a figure approximately 80% to the employee salary.

So in Spain for example if the annual salary is 36,000 EUR the company needs to pay 0.8x36k = 28.8k…meaning the total amount you cost to the company is 36k+28.8k = 64.800 EUR.

I believe this figure is lower in Taiwan but i would like to know more or less how lower.

Thanks in advance.

Wow! Whats the extra 28.8k for?
Then on top of that the employee gets taxed what? 10k?
So the government takes 38.8k from a 36k salary lol

Socialism…

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It’s definitely lower. Health and labor insurance contributions around 10% of the salary? That too high?

about 25%-30% - including taxes, vacation days, sick days etc.

Spain gets it easy.
In Brazil, an employee who earns 1,000, has an approximate cost of 2,270.

Now I’m also interested in knowing what’s the ratio in Taiwan.

Actually i have to admit that i know very little about this things…but i have always hear that when a company hires you its not only the salary they pay you but the other costs they have for hiring you (taxes, health and labor, etc)…which sometimes i hear its almost same as your salary.

Wow!

Hi Izzy…first of all thanks for your reply.
So lets say i get a salary of 1M/year…the total amount the company spend on me will be 1.3M/year, correct?

I knew about this but never imagined the amount a company pays would be nearly equal to the salary itself. I thought it would be maybe 20%-30%

So I looked at my wife’s TW payroll b4 since her boss lists what he pays also…hes that kind of dude.
I think based on her salary it looks like hes paying 15-20%. Part of that is employers need to pay 6% pension. This is from memory I can double check later at home.

Hi RickRoll…you mean 2270 including the salary, right? 1000+1270, yes?
Actually that sounds similar to spain…usually in spain i hear that the cost for the company is almost equal to the salary…the 80% i was just guessing.

Does that go into some employee pension? Part of it is for National Health right?

Yes, National Health is a big part of that

Yes. Correct.
That includes taxes, pension and other benefits

Health insurance 4.7%
Labor insurance 7.7%
Pension 6%?

i think about that. i am not an accountant, but a rough calculation is around those numbers:
health insurance: 5%
labor insurance: 6%
retirement: 6%
vacation days (assuming 14 days off a year) - ~4%
and there are other payments employers need to take to account like maternity leave if you are a woman, or severance pay if you leave the company.

What’s this concept about ?!?

if you still get paid when you are sick and not at work this is an extra cost that the employer has to cover.

It doesn’t cost extra. It’s missing hours and company can discount 50% of those hours from your salary