Hi, Can someone please help me to calculate; The total Salary cost Average Salary cost Average Salary increase in an organisation. Need the formulas..... Regards, Chetana
From India, New Delhi
From India, New Delhi
Chetna
The answers seems to be in your question itself. Unless you are asking for total cost to company.
Total salary cost would be an addition of all the Salaries
Average cost would be Sum of the total salary/# of people ( you may want to create groups to be accurate, say "developers' etc.
Average increase would also follow the same average calcuation pattern.
4The answers seems to be in your question itself. Unless you are asking for total cost to company.
Total salary cost would be an addition of all the Salaries
Average cost would be Sum of the total salary/# of people ( you may want to create groups to be accurate, say "developers' etc.
Average increase would also follow the same average calcuation pattern.
Hi Chetana,
Q. Can someone please help me to calculate;
The total Salary cost
Average Salary cost
Average Salary increase in an organisation.
Need the formulas.....
A. Its a simple mathematics and let me explain this way:-
1. Total Salary cost: Be clear to add all the components of the salary both monthly & annuals, this includes insurance premuim and PF contribution by the company et all. Add up all this for the all employees to give total salary cost.
2. Average salary cost: once you have the total salary cost , divide this by the number of the employees.
Use the departmental wise/location wise, functional wise costs to be compared/bencharked with other locations/industry standards.
3. Average salary increase:
a. Calculate ( This year's total salary-previous yr total salary)
b. Divide a by this year's total salary.
c. Multiply the product by 100.
Voila you would get the answer!..
Hope this helps you.
Cheerio
Rajat Joshi
From India, Pune
Q. Can someone please help me to calculate;
The total Salary cost
Average Salary cost
Average Salary increase in an organisation.
Need the formulas.....
A. Its a simple mathematics and let me explain this way:-
1. Total Salary cost: Be clear to add all the components of the salary both monthly & annuals, this includes insurance premuim and PF contribution by the company et all. Add up all this for the all employees to give total salary cost.
2. Average salary cost: once you have the total salary cost , divide this by the number of the employees.
Use the departmental wise/location wise, functional wise costs to be compared/bencharked with other locations/industry standards.
3. Average salary increase:
a. Calculate ( This year's total salary-previous yr total salary)
b. Divide a by this year's total salary.
c. Multiply the product by 100.
Voila you would get the answer!..
Hope this helps you.
Cheerio
Rajat Joshi
From India, Pune
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