Dear sir, i want to know that will basic salary change every month? if yes then reply hw it is possible?
From India, Lucknow
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From India, Lucknow
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Dear Asheesh,
Salary is fixed for a month (30/31 days) and is payable for employees on a pro-rata basis depending on the number of days worked in a month. Thus, all components of your salary are payable equal to the number of days you work in that month. For example, if your salary looks like this:
Basic: 3500
HRA: 1750
Other: 750
Total: 6000
You will divide the salary by the number of days in a month and pay according to attendance. Deductions will also occur based on attendance. I hope this explains how the basic amount will differ based on the number of days worked.
Please note that the Basic amount is fixed for a period and cannot be reduced by any employer during the term of employment; it can only increase.
Regards,
Shridhar
From India, Mumbai
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4Salary is fixed for a month (30/31 days) and is payable for employees on a pro-rata basis depending on the number of days worked in a month. Thus, all components of your salary are payable equal to the number of days you work in that month. For example, if your salary looks like this:
Basic: 3500
HRA: 1750
Other: 750
Total: 6000
You will divide the salary by the number of days in a month and pay according to attendance. Deductions will also occur based on attendance. I hope this explains how the basic amount will differ based on the number of days worked.
Please note that the Basic amount is fixed for a period and cannot be reduced by any employer during the term of employment; it can only increase.
Regards,
Shridhar
From India, Mumbai
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Hi,
One doubt...
Gross salary - 9000 per month
Basic salary - 5850
Others - 3150
Present days - 12 days in the month of October
Now my senior calculated the salary as follows:
October salary PF Amount deduction Net salary payable
(9000*12/31) = 3483.87 3483*65%*12% = 271.67 3483 - 271.67 = 3211.33
Is this the right method? First, he calculated the salary for the present days, i.e., basic salary, and then deducted PF. Please reply soon...
Dear Asheesh,
Salary is fixed for a month (30 / 31 days) and is payable for employees on a pro-rata basis based on the number of days worked in a month. Thus, all components of your salary are payable equal to the number of days you work in that month. For example, if your salary looks like this:
Basic: 3500
HRA: 1750
Other: 750
Total: 6000
You will divide the salary by the number of days in a month and pay as per the attendance. The deduction will also happen as per attendance. I hope this explains how the basic will differ based on the number of days worked. Please note that the basic amount is fixed for a period and cannot be reduced by any employer during the term of employment; it can only increase.
Regards,
Shridhar
From India, Thana
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One doubt...
Gross salary - 9000 per month
Basic salary - 5850
Others - 3150
Present days - 12 days in the month of October
Now my senior calculated the salary as follows:
October salary PF Amount deduction Net salary payable
(9000*12/31) = 3483.87 3483*65%*12% = 271.67 3483 - 271.67 = 3211.33
Is this the right method? First, he calculated the salary for the present days, i.e., basic salary, and then deducted PF. Please reply soon...
Dear Asheesh,
Salary is fixed for a month (30 / 31 days) and is payable for employees on a pro-rata basis based on the number of days worked in a month. Thus, all components of your salary are payable equal to the number of days you work in that month. For example, if your salary looks like this:
Basic: 3500
HRA: 1750
Other: 750
Total: 6000
You will divide the salary by the number of days in a month and pay as per the attendance. The deduction will also happen as per attendance. I hope this explains how the basic will differ based on the number of days worked. Please note that the basic amount is fixed for a period and cannot be reduced by any employer during the term of employment; it can only increase.
Regards,
Shridhar
From India, Thana
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Hi Sapna Ji Calculation of salary & deduction on basic as per number of days is OK.Salary/Basic is being calculated on payable days i.e present, paid leave & w.off/holidays.
From India, New Delhi
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From India, New Delhi
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Dear All,
To the best of my knowledge, employees or laborers receive their compensation on a daily or monthly basis. On a daily basis, there is no classification of basic salary or any other allowances. Therefore, when a person receives a basic salary, it means they are receiving the monthly compensation.
Now, returning to the question of whether the basic salary can be changed every month - the answer is no if there are no absences. If a person has attended the office without any absences during a particular month, as per the prescribed policy of the respective organization, the norm is usually 8 hours per day unless specified otherwise.
On the other hand, if an employee has had some absences, deductions will occur in the total compensation, and all other allowances will change along with the basic salary.
From India, New Delhi
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To the best of my knowledge, employees or laborers receive their compensation on a daily or monthly basis. On a daily basis, there is no classification of basic salary or any other allowances. Therefore, when a person receives a basic salary, it means they are receiving the monthly compensation.
Now, returning to the question of whether the basic salary can be changed every month - the answer is no if there are no absences. If a person has attended the office without any absences during a particular month, as per the prescribed policy of the respective organization, the norm is usually 8 hours per day unless specified otherwise.
On the other hand, if an employee has had some absences, deductions will occur in the total compensation, and all other allowances will change along with the basic salary.
From India, New Delhi
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The calculations should be:
Basic: 9000/- per day = 290.32
Total working days = 12, thus 12 x 290.32 = 3483.87
Deduction of PF @ 12% = 418.06
Total Basic payable = 3065.80/-
All other components will be calculated for 12 days in a similar fashion.
Regards,
Shridhar
From India, Mumbai
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Basic: 9000/- per day = 290.32
Total working days = 12, thus 12 x 290.32 = 3483.87
Deduction of PF @ 12% = 418.06
Total Basic payable = 3065.80/-
All other components will be calculated for 12 days in a similar fashion.
Regards,
Shridhar
From India, Mumbai
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Dear Sapna,
As per the data you have provided, it is clear that the basic salary is 65% of the Gross salary and the number of days present is 12 out of 31 days. Hence, the gross salary will be calculated as follows:
Gross salary = 9000 * 12 / 31 = 3486.87 (rounded to 3484)
Basic salary = 3484 * 65% = 2264.6 (rounded to 2265) or 5850 * 12 / 31 = 2264.51 (rounded to 2265)
PF is calculated on the basic salary, thus:
PF = 2265 * 12% = 271.8 (rounded to 272) or (5850 * 12 / 31) * 12% or (9000 * 12 / 31) * 65% * 12%
Any of the above relations can be used as they will lead to the same result and are logically correct. It is similar to getting a product of 12 by either multiplying 3 * 4, 2 * 6, 1 * 12, or 2 * 2 * 3. In all cases, you will get the result 12.
I hope this clarifies the calculation process.
From India, Delhi
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As per the data you have provided, it is clear that the basic salary is 65% of the Gross salary and the number of days present is 12 out of 31 days. Hence, the gross salary will be calculated as follows:
Gross salary = 9000 * 12 / 31 = 3486.87 (rounded to 3484)
Basic salary = 3484 * 65% = 2264.6 (rounded to 2265) or 5850 * 12 / 31 = 2264.51 (rounded to 2265)
PF is calculated on the basic salary, thus:
PF = 2265 * 12% = 271.8 (rounded to 272) or (5850 * 12 / 31) * 12% or (9000 * 12 / 31) * 65% * 12%
Any of the above relations can be used as they will lead to the same result and are logically correct. It is similar to getting a product of 12 by either multiplying 3 * 4, 2 * 6, 1 * 12, or 2 * 2 * 3. In all cases, you will get the result 12.
I hope this clarifies the calculation process.
From India, Delhi
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In most cases, especially in India, the basic salary remains constant in a month. However, it is possible for basic pay to be variable. An example of this is an organization that calculates the monthly salary based on the working days in a month rather than the calendar days. The net effect over a calendar year will be the same, but the salary will vary from month to month.
Regards, R. Narayanan
From India, Madras
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Regards, R. Narayanan
From India, Madras
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(Fact Checked)-The user's reply is correct regarding the variability of basic salary based on working days in a month in India. (1 Acknowledge point)
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Hi,
Thanks for your suggestions and calculation.
@pradyumna_atri - you are saying that whatever calculation I did is right. But did you check that above your thread "shridharb2004" this guy is calculating differently? So, I am again confused about which method is correct or if both are correct.
From India, Thana
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Thanks for your suggestions and calculation.
@pradyumna_atri - you are saying that whatever calculation I did is right. But did you check that above your thread "shridharb2004" this guy is calculating differently? So, I am again confused about which method is correct or if both are correct.
From India, Thana
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CiteHR.AI
(Fact Checked)-The calculation provided is accurate. Well done! (1 Acknowledge point)