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CHAPTER 26 Employers

CHAPTER 26 Employers. Employers + their rights. An employer is anybody who pays somebody else to do work. To decide the objectives of the business. To set the conditions of employment for all employees. To organise the business in any manner they want (legally).

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CHAPTER 26 Employers

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  1. CHAPTER 26 Employers

  2. Employers + their rights An employer is anybody who pays somebody else to do work. R. Delaney To decide the objectives of the business To set the conditions of employment for all employees To organise the business in any manner they want (legally) To dismiss employees who have not honoured the terms of employment To expect a fair day’s work from each of their employees in return for a fair wage To expect loyalty, and respect for the firm’s property, from the employees

  3. Employers + responsibilities R. Delaney To give each employee, within one month of commencement of employment, a written statement of his/her terms of employment To abide by all employment laws Not to discriminate against employees on grounds of gender, race or religion To provide a safe and healthy work place To provide each employee with a written statement of pay (a payslip) To deduct all statutory deductions from all employees’ wages and to pass them on to Collector General of Taxes

  4. Procedure for Employing Staff Draw up a job description Advertise the job Arrange interviews Select the best candidate Induction, i.e. introduction to company policy and to staff members Give the new employee written terms of employment. R. Delaney

  5. Wages and Salaries A salary is a payment made to an employee that is not dependent on the number of hours worked or the amount of goods produced or sold by the employee in a given period. A wage is a payment made to an employee that is dependent on the number of hours worked or the amount of goods produced or sold by the employee in a given period. R. Delaney

  6. Wage Calculation Q6 Workbook Page 126 R. Delaney David Dunne No. 4455 Wage Slip May 2011 PAY: DEDUCTIONS Basic PAYE €260 €950 PRSI (USC) €81 €120 Overtime Gross pay = Basic + overtime Total deductions = PAYE + PRSI (USC) €341 €1,070 GROSS PAY TOTAL DEDUCTIONS NET PAY Net pay = Gross pay minus Total Deductions €729

  7. Gross Pay: Standard pay per hour = €15, therefore overtime per hour = €15 X 1.5 = €22.50 Therefore gross wage = 38 hours X €15 (€570.00) + 10 hours X €22.50 (€225.00) = €795.00 PAYE: €500 @ standard rate of 20% = €100.00 + €295 @ 42% =€123.90 Gross PAYE =€223.90 Less tax credit =€90.00 Tax payable = €133.90 Wage Calculation Q12(a) and (b) Workbook Pages 127 / 128 R. Delaney

  8. Wage Calculation Q12(c) Workbook Pages 127 / 128 R. Delaney Agnes Delaney No. 4455 Wage Slip Week 21 PAY: DEDUCTIONS Basic PAYE €133.90 €570 PRSI (USC) €59.63 €225 Overtime €70.00 Pension Gross pay = Basic + overtime €795 GROSS PAY €150.00 Savings Total deductions = PAYE + PRSI + Pension+ Savings €413.53 Total Deductions NET PAY €381.47 Net pay = Gross pay minus Total Deductions

  9. Wages Cash Analysis Statement: Q16, Workbook, Page 129 R. Delaney Employee Net €100 €50 €20 €10 €5 €2 €1 50c 20c 10c 5c 2c 1c F. Flynn €550.50 5 1 1 H. Hughes €753.43 7 1 1 1 2 1 1 B Lohan €846.97 8 2 1 1 1 2 1 1 Total €2,150.90 20 2 2 0 1 1 2 2 4 0 1 2 1

  10. Wages Cash Analysis Statement: Q16, Workbook, Page 129 (cont) R. Delaney 20 €2,000 €100 2 2 €40 €0 0 €5 1 €2 1 €2 2 €1 2 €0. 80 4 €0. 00 0 2 €0. 10 €0. 04 2 €0. 01 1 €2,150.95

  11. Paypath Paypath is an electronic means of transferring an employee’s wages from the employer’s bank account to an employee’s bank account. R. Delaney

  12. Advantages of Paypath Advantages of Paypath It eliminates all the problems associated with payment by cash. The employer does not have to make out cheques for each individual employee. The employees do not run the risk of losing their cash or cheques. The employees do not have to go to a bank to lodge or cash their cheques. The wages are lodged instantly to the employees’ bank accounts, which could earn interest for them or reduce overdraft charges. Employees can access the amount of cash they require at any ATM at any time. R. Delaney

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