Aruba ƒ 140,000.00 Salary - Recruitment and Employment Costs Example
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Published on: 2023-05-02 08:02:27
Last modified: 2023-05-02 10:01:33
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Introduction
This page provides an example of the recruitment costs for a new member of staff employed and paying taxes in Aruba in 2023. The calculations also provide an illustration of the ongoing costs of employment in 2023. This example of employment costs is for illustration only, you can use the True Cost of Employment in Aruba calculator to refine the calculations to suit your own recruitment budget and business budget/overhead.
Aruba Cost of Recruitment and Employment in 2023 Calculations
Snapshot: A new employee earning ƒ 140,000.00 in Aruba in 2023 will cost a total of ƒ 210,227.37 for the first year of employment including recruitment and facilities costs. After this the operational cost of the employee will drop to ƒ 199,027.37 per annum.
The table below details the cost of recruitment and operational ongoing costs for an employee earning ƒ 140,000.00 in Aruba in 2023. The calculation includes payroll deductions, for example pension and social security commitments for employers.
| Employee Salary | ƒ 140,000.00 | |||
| + | Employee Bonus | ƒ 7,368.42 | ||
| + | Payroll overhead | ƒ 350.00 | ||
| + | Payroll Costs (Social Security etc.) | ƒ 36,218.95 | ||
| = | Total Payroll Costs | ƒ 183,937.37 | ||
|---|---|---|---|---|
| Employer Pension Contribution | ƒ 0.00 | |||
| + | Private Healthcare | ƒ 490.00 | ||
| + | Company Car | ƒ 1,148.00 | ||
| + | Shares (% of Base Salary) | ƒ 5.00 | ||
| = | Total Employee Benefits Costs | ƒ 1,643.00 | ||
| Vacancy Advertising | ƒ 280.00 | |||
| + | Employee Referral | ƒ 0.00 | ||
| + | Travel and Accomodation | ƒ 350.00 | ||
| + | Relocation | ƒ 4,900.00 | ||
| + | External Recruitment Agency | ƒ 2,100.00 | ||
| + | Tertiary Payroll | ƒ 490.00 | ||
| + | Legal | ƒ 1,190.00 | ||
| + | Administration | ƒ 1,820.00 | ||
| = | Total Recruitment Costs | ƒ 11,200.00 | ||
| Office Setup | ƒ 10,500.00 | |||
| + | Office Running | ƒ 420.00 | ||
| + | Telecomms | ƒ 252.00 | ||
| + | Technology Resource | ƒ 595.00 | ||
| + | Line Manager | ƒ 1,680.00 | ||
| = | Total Facilities Costs | ƒ 13,447.00 | ||
| = | Total Recruitment and First Year Cost | ƒ 210,227.37 | ||
| = | Total Cost of Ongoing Employment | ƒ 199,027.37 |
Aruba Employer Payroll Obligations in 2023 Calculations
The table below provides an example of the payroll obligations and cost in Aruba for an emplyee earning ƒ 140,000.00 in 2023
| ƒ 140,000.00 | Annual Employee Salary in 2023 | |
| + | ƒ 7,368.42 | Annual Employee Bonus in 2023 |
| + | ƒ 36,218.95 | Aruba Employers Social Security Contributions on ƒ 140,000.00 in 2023 |
| = | ƒ 183,587.37 | Aruba: Total Cost of Employee in 2023 |
| ƒ 147,368.42 | Annual Income in 2023 | |
| × | 10.5% | Aruba Pension(AOV/AWW) employer rate in 2023 |
| = | ƒ 15,473.68 | Aruba total calculated Pension(AOV/AWW) in 2023 |
| ƒ 85,000.00 | Aruba Maximimum Pension(AOV/AWW) employer contributions in 2023 | |
| = | ƒ 15,473.68 | Aruba Employers Pension(AOV/AWW) Contributions on ƒ 147,368.42 in 2023 |
| ƒ 147,368.42 | Annual Income in 2023 | |
| × | 8.9% | Aruba General Health Insurance (AZV) employer rate in 2023 |
| = | ƒ 13,115.79 | Aruba total calculated General Health Insurance (AZV) in 2023 |
| ƒ 85,000.00 | Aruba Maximimum General Health Insurance (AZV) employer contributions in 2023 | |
| = | ƒ 13,115.79 | Aruba Employers General Health Insurance (AZV) Contributions on ƒ 147,368.42 in 2023 |
| ƒ 147,368.42 | Annual Income in 2023 | |
| × | 2.65% | Aruba Sickness Insurance employer rate in 2023 |
| = | ƒ 3,905.26 | Aruba total calculated Sickness Insurance in 2023 |
| ƒ 70,200.00 | Aruba Maximimum Sickness Insurance employer contributions in 2023 | |
| = | ƒ 3,905.26 | Aruba Employers Sickness Insurance Contributions on ƒ 147,368.42 in 2023 |
| ƒ 147,368.42 | Annual Income in 2023 | |
| × | 2.5% | Aruba Accident Insurance employer rate in 2023 |
| = | ƒ 3,684.21 | Aruba total calculated Accident Insurance in 2023 |
| ƒ 70,200.00 | Aruba Maximimum Accident Insurance employer contributions in 2023 | |
| = | ƒ 3,684.21 | Aruba Employers Accident Insurance Contributions on ƒ 147,368.42 in 2023 |
| ƒ 147,368.42 | Annual Income in 2023 | |
| × | 1% | Aruba Cessantia employer rate in 2023 |
| = | ƒ 1,473.68 | Aruba total calculated Cessantia in 2023 |
| ƒ 40.00 | Aruba Maximimum Cessantia employer contributions in 2023 | |
| = | ƒ 40.00 | Aruba Employers Cessantia Contributions on ƒ 147,368.42 in 2023 |
ƒ 140,000.00 Salary - Recruitment and employment costs examples for alternate tax years
Select an alternate tax year to see how the cost of employment for an employee earning ƒ 140,000.00 per annum in Aruba has changed over time.
You can access more examples, find detailed instructions on how to calculate the cost of an employee in Aruba here