Contractors Benefit Services - Construction Workers

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PREVAILING WAGE FRINGE BENEFIT PLANS

CONTRACTORS
AND EMPLOYEES
RETIREMENT PLAN
AND TRUST

HOURLY HEALTH AND
WELFARE PROGRAM

Contractors Benefit Services

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Payroll Savings Calculator

 Calculate your Savings

Typical Payroll Taxes
FICA 7.65%
Workman's Comp* 15.00%
FUTA 1.60%
SUTA 1.40%
25.65%
25.65% is the approximate additional payroll cost
when paying fringe dollars as cash wages

Sample Calculation
Assume XYZ Construction Company has 15 employees doing Prevailing Wage work. These employees work approximately 1000 hours each per year. The Fringe amount above base rate is $4 / hour.

15 employees X 1000 hours = 15,000 Total hours
15,000 hours X $4.00 = $60,000 in Additional Payroll
$60,000 X 25.65% =

 

 Try Our Calculator To See How Much We Can Save You!
  Calculate Your Savings With Contractors Benefit Services, LLC


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Contractors Benefit Services, LLC
223 East Center Street Manchester, CT 06040 Telephone: (860) 533-3090
Toll Free: (800) 800-5206
Facsimile: (860) 645-7460
Email: tgorman@gormaninsurance.com

 

 

 

 

 

PREVAILING WAGE FRINGE BENEFIT PLANS

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