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The minimum salary can be calculated as follows:
For every 10 €000 of monthly gross weekly gross earnings at a fixed location with a reasonable level of travel in a reasonably priced apartment, the minimum monthly pay should be calculated
Where a fixed monthly cost has been included in the hourly pay to make the hourly cost equivalent to the minimum monthly wage, the hourly pay will be the sum of the hourly fixed cost (wages) and the monthly cost plus
The total hours worked in the current and previous calendar month (which should be the first calendar month in which you are completing your Master’s degree or equivalent or, until the end of the fifth semester, are pursuing a Masters program) will be included in the calculation of weekly gross earnings
How this calculator has been developed: The first step was to build an online calculator where the user can enter the gross weekly gross earnings of the graduate and an estimated location and average hourly rental price. The user can estimate the hourly fixed cost which is typically 30-50/hour in Berlin or Amsterdam.. Unlock Salary Notice
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How do I write a letter of salary reduction?
Salary reduction letter Include the date, employee's name, reason for the salary reduction, and the effective date on your salary cut letter. You may also want to include a section for the employee to sign to show they understand the reason for the reduction.
How can an employee reduce salary?
Assure employees that your first priority is job security. Convey a very nonthreatening message that during an economic downturn, a lower salary is better than no salary at all. Negotiate carefully with employees who volunteer to take a pay cut or employees who offer to take a furlough instead of a pay cut.
Can companies reduce your salary?
In many cases, the answer is yes. The amount you make and the hours you work aren't guaranteed. If you aren't protected by an employment contract or bargaining agreement, your employer can reduce your salary and your work schedule at any time, with some limitations.
Can my employer change my contract and reduce my pay?
If your employer asks you to work fewer hours or take a pay cut, this is a change to your contract of employment. Any change to your contract of employment must be agreed by both you and your employer. If you don't accept a reduction in your working hours or pay, your employer may decide to make you redundant.
Can you reduce an exempt employee's salary?
The answer is yes. Under certain circumstances, an exempt employee's salary can be reduced, according to the U.S. Department of Labor. In order for the exempt employee's salary reduction to be defensible, it should be: Permanent. Applied to an entire group or class of employees.
How do I write a salary letter?
Use company stationary to prepare a salary verification letter. Address the contact person by Mr. Or Ms. in the salutation. Begin the letter by stating your purpose for writing, including the employee's name, job title, company name and start date. State the employee's base salary in the second paragraph.
What does salary reduction mean?
Salary reduction plan. A salary reduction plan is a type of employer-sponsored retirement savings plan. A salary reduction plan allows you, as an employee, to contribute some of your current income to a retirement account in your name and to accumulate tax-deferred earnings on those contributions.
Can salary be decreased?
The salary of an employee can not be decreased until a non-performance issue or a variable component roll back is there. However decreasing the inland doesn't imply the decrease in salary. There might be different reasons.
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