How To Calculate Child Allowance In

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How To Calculate Child Allowance In
How To Calculate Child Allowance In

Video: How To Calculate Child Allowance In

Video: How To Calculate Child Allowance In
Video: Child Tax Credit Explained 2020 2024, April
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Planning a family and having a baby can rightfully be called a pleasure that not everyone can afford. Unfortunately, many families do not have children due to financial difficulties. But life goes on and everything changes, including legislation. Recently, the procedure for calculating the child allowance has changed again. Maybe several years will pass, new changes will be made and the allowance will be sufficient for the full maintenance and upbringing of the baby.

How to calculate the child allowance
How to calculate the child allowance

It is necessary

data on the amount of income for 2 years (or for 12 months)

Instructions

Step 1

First of all, to calculate the child allowance, you need to calculate the amount of average earnings for the last two calendar years before taking out parental leave. The easiest way to make a calculation is if the person's place of work has not changed for two years. If the place of work has changed, certificates of the form established by law from each place of work for the entire period are required.

Step 2

Limited minimum and maximum caps are set each year. The average amount of earnings should not be above the limit or below. That is, when in total for the whole year the salary turns out to be more than the limit, the maximum established amount is taken into account. The second year is accounted for in the same way and is added to the first.

Step 3

If the total amount is less than the set limit, the minimum set amount is taken into account. If insurance premiums were not accrued on wages, travel and vacation payments, then this amount is not taken into account.

Step 4

The calculated average income for 2 years is divided by the number of days regardless of whether the employee worked for the full period, that is, by 730 days. The resulting number must be multiplied by a coefficient of 30.4, which will be the average daily income. Then the total is multiplied by 40%. This will be the final amount of the child benefit.

Step 5

The child allowance can also be calculated based on the average earnings not for two years, but only for one, that is, for 12 months. Only the fully worked period is taken into account. To do this, going on maternity leave, you must submit an application to the accounting department of the enterprise. This also applies to women working at home and part-time workers.

Step 6

If a future woman in labor is registered in the first months of pregnancy, then she simultaneously receives a child benefit and a lump sum.

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