COLA For TeachersEducational Guidesgovt 15% cola

How To Calculate 15% COLA

Here is How to Calculate 15% COLA as agreed to be paid by government.

The government has agreed to pay a 15% COLA with effect from 1st July , 2022. This comes after a meeting with Organised Labour.

The COLA to be paid is 15% of your base pay.

 

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Table of Contents

What Is COLA

  • COLA, is an allowance given to government employees as short-term relief when immediate salary increment cannot be made.
  • Payment of COLA, stops as soon as a salary is increased.

 

What Is Base Pay

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How To Calculate 15% COLA

To Calculate 15% COLA assuming your base pay on your payslip is GHC 2000.

  • Multiply 15% by 1500 thus 15/100 × 1500 = GHC 225.
  • Your COLA for this instance is GHC 225
  • The GHC 225 will be added to your base pay of GHC 1500
  • Your receivable salary will be effected after other deductions (taxes, etc) and other allowances are added to your base pay

Govt 15% COLA Payment Calculation Table

Base Pay (GHS)15% COLA (GHS)Base Pay + COLA (GHS)
10001501150
15002251725
20003002300
25003752875
30004503450
35005254025
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When Will COLA Be Paid

 

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  • Govt 15% Cola 2023, When Will COLA Be Paid In 2023, When Will Cost of Living Allowance Be Paid In 2023, When will COLA For 2023 Be Paid Ghana

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