salary cost definition
salary cost means the annual salary of a person employed by the consulting engineer divided by 1800 (this being deemed to be the average annual total of effective working hours of an employee) and multiplied by the number of working hours spent by the person in performing any of the services in respect of which payment is to be made to the consulting engineer upon the basis of salary cost; and for the purpose of this definition, the annual salary of a person for a period of less than a full year shall be calculated prorata to the person’s salary for such lesser period;
salary cost means the annual salary of any person employed by the Consulting Engineer divided by 1800 (this being deemed to be the average annual total of effective working hours of an employee) and multiplied by the number of working hours spent by such person in performing any of the services in respect of which payment is to be made to the Consulting Engineer upon the basis of Salary Cost; and for the purpose of this definition the annual salary of a person for a period of less than a full year shall be calculated prorata to person's salary for such lesser period.
salary cost is defined as the cost of salary of engineers, draftsmen, stenographers, surveyors, clerks, and laborers for time directly chargeable to the Project, plus Social Security contributions, unemployment, excise and payroll taxes, employment compensation insurance, retirement benefits, medical and insurance benefits, sick leave, vacation and holiday pay applicable thereto.
More Definitions of salary cost
salary cost means the annual basic salary of any person employed by the CQS divided by 1800 being deemed to be the average annual total of effective working hours of an employee) and multiplied by the number of working hours spent by such person in performing any of the services in respect of which payment is to be made to the Consulting Q.S. upon the basis of the “salary cost” and for the purpose of this definition, the annual salary of a person for a period of less than a full year shall be calculated pro rata to such person’s salary for such lesser period; and