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What is a Pay Stub Calculator?
A Pay Stub Calculator is a tool for calculating an employee’s net pay, particularly home pay, after subtracting their gross pay.
How to Calculate a Monthly Pay Stub?
To calculate, you will need to follow the examples below that are based on the salary and hourly earnings:
Salary:
Mark earns $55,000 per year in the role of a payroll assistant. To find out how much he earns every month, he performs the following calculation:
$55,000 /12 = $4,583.33
Mark’s calculation shows that he earns about $4,583.33 monthly before taxes and other deductions are made.
Hourly Earnings:
Finn earns $12 per hour as an administrative assistant, working 20 hours per week. To find his annual Income, he multiplies his hourly earnings by the hours of work he has attended each week.
Hourly pay X Worked Hours = $12 X 20 = $240.
Finn multiplies the earlier total by 52 for the number of weeks in a year.
$240 X 52 = $12,480
With his yearly Income out, he can divide it by 12 for the months in a year.
Monthly Income: $12,480 / 12 = $1,040
Finn found out that he earns $1,040 per month.
Also, See: Payroll Deductions
