Job value to a worker and to social insurance funds, by employment status
| Payroll employee | Independent contractor | Difference | ||
|---|---|---|---|---|
| Value to worker of job that pays $24,850 | ||||
| A | Regular pay | $24,202 | $24,202 | |
| B | Supplemental pay | $648 | $0 | |
| C | Paid leave | $1,357 | $0 | |
| D | Insurance and retirement benefits | $2,771 | $0 | |
| E | [Minus] Paperwork costs for independent contractor | $777 | ||
| F | [Minus] Worker share of Social Security and Medicare | $1,901 | $3,310 | |
| G = A+B+C+D-E-F | Net value to worker of job | $27,077 | $20,114 | |
| Employer contributions to social insurance | ||||
| H | Social Security and Medicare | $1,901 | $0 | |
| I | Unemployment insurance | $259 | $0 | |
| J | Workers’ compensation | $677 | $0 | |
| K = H+I+J | Total employer contributions to social insurance | $2,838 | $0 | |
| Totals | ||||
| G | Value to worker | $27,077 | $20,114 | $6,963 |
| F+K | Payment to social insurance funds | $4,739 | $3,310 | $1,429 |
