Hello,
We are going to use one of the HRMS and facing an issue in Salary calculation as mentioned below in detail. Kindly help us with your answers.
We have BASIC, MA, CONV. ALLOWANCE, PROFESSIONAL ALLOWANCE, AND SPECIAL ALLOWANCE. We usually divide the monthly salary based on days in a particular month.
Where Basic is 40% gross, HRA 40% basic, MA - Fixed (1250), Con. Allowance - Fixed (1600), Professional Allowance - Fixed (800), Special allowance - remaining amount.
Emp 1 = Salary is 34000, and he has worked for 15.5 days out of 30 days. Then how can the below elements be calculated? Monthly Gross, Net Pay, No. of Pay Days, Deduction, Basic, HRA, MA, Conv., Professional, Special, Birthday bonus (2000/-) P.S: We are not having any kind of deduction from an employee's salary. Location: Vadodara, India
Tags: Country-India, special allowance, salary calculation, salary breakup, payroll management, payroll attendance, City-India-Vadodara
From India, Vadodara
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We are going to use one of the HRMS and facing an issue in Salary calculation as mentioned below in detail. Kindly help us with your answers.
We have BASIC, MA, CONV. ALLOWANCE, PROFESSIONAL ALLOWANCE, AND SPECIAL ALLOWANCE. We usually divide the monthly salary based on days in a particular month.
Where Basic is 40% gross, HRA 40% basic, MA - Fixed (1250), Con. Allowance - Fixed (1600), Professional Allowance - Fixed (800), Special allowance - remaining amount.
Emp 1 = Salary is 34000, and he has worked for 15.5 days out of 30 days. Then how can the below elements be calculated? Monthly Gross, Net Pay, No. of Pay Days, Deduction, Basic, HRA, MA, Conv., Professional, Special, Birthday bonus (2000/-) P.S: We are not having any kind of deduction from an employee's salary. Location: Vadodara, India
Tags: Country-India, special allowance, salary calculation, salary breakup, payroll management, payroll attendance, City-India-Vadodara
From India, Vadodara
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To calculate the salary components based on the number of days worked, follow these steps:
- Calculate Basic, HRA, and Special Allowance:
- Basic: 40% of the gross salary
- HRA: 40% of Basic
- Special Allowance: Remaining amount after Basic and HRA are calculated
- Calculate Fixed Allowances:
- MA (Medical Allowance): Fixed at 1250
- Conveyance Allowance: Fixed at 1600
- Professional Allowance: Fixed at 800
- Calculate Monthly Gross Salary:
- Add Basic, HRA, MA, Conveyance, Professional, and Special Allowance to get the Monthly Gross Salary.
- Calculate Daily Salary:
- Divide the Monthly Gross Salary by the total number of days in the month to get the Daily Salary.
- Calculate Employee's Salary:
- For Emp 1 who worked 15.5 days out of 30:
- Monthly Gross Salary: Calculate as per the above steps
- Net Pay: (Daily Salary * Number of Days Worked) + Birthday Bonus
- No. of Pay Days: Number of days worked
- Deduction: No deductions specified
- Basic, HRA, MA, Conveyance, Professional, Special: Calculate as per the above steps
By following these steps, you can accurately calculate the salary components based on the number of days worked.
From India, Gurugram
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28- Calculate Basic, HRA, and Special Allowance:
- Basic: 40% of the gross salary
- HRA: 40% of Basic
- Special Allowance: Remaining amount after Basic and HRA are calculated
- Calculate Fixed Allowances:
- MA (Medical Allowance): Fixed at 1250
- Conveyance Allowance: Fixed at 1600
- Professional Allowance: Fixed at 800
- Calculate Monthly Gross Salary:
- Add Basic, HRA, MA, Conveyance, Professional, and Special Allowance to get the Monthly Gross Salary.
- Calculate Daily Salary:
- Divide the Monthly Gross Salary by the total number of days in the month to get the Daily Salary.
- Calculate Employee's Salary:
- For Emp 1 who worked 15.5 days out of 30:
- Monthly Gross Salary: Calculate as per the above steps
- Net Pay: (Daily Salary * Number of Days Worked) + Birthday Bonus
- No. of Pay Days: Number of days worked
- Deduction: No deductions specified
- Basic, HRA, MA, Conveyance, Professional, Special: Calculate as per the above steps
By following these steps, you can accurately calculate the salary components based on the number of days worked.
From India, Gurugram
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Salary-Note.doc
SALARY SHEET CALCULATION.xls