Dear All,
When I go through various threads relating to Salary Calculation Formula for Monthly Fixed Salary Cadre employees, I come to know about three major formulas as below:
1) Gross Salary / Total days in the concerned month (i.e., 28, 30, or 31) * days worked
2) Gross Salary / 30 Days (30 days standard for all months) * days worked
3) Gross Salary * 12 / 365 * Days Worked
All of the above formulas have their own merits and demerits. My query is: is there any legal basis or statutory provision for any of the above formulas?
Note: I want to know this about Managerial cadre and not workers.
Kindly advise.
Regards,
Ram Ahir
From India
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1When I go through various threads relating to Salary Calculation Formula for Monthly Fixed Salary Cadre employees, I come to know about three major formulas as below:
1) Gross Salary / Total days in the concerned month (i.e., 28, 30, or 31) * days worked
2) Gross Salary / 30 Days (30 days standard for all months) * days worked
3) Gross Salary * 12 / 365 * Days Worked
All of the above formulas have their own merits and demerits. My query is: is there any legal basis or statutory provision for any of the above formulas?
Note: I want to know this about Managerial cadre and not workers.
Kindly advise.
Regards,
Ram Ahir
From India
Acknowledge(0)Amend(0)
Dear Seniors, Kindly advise!! I need you valuable suggestion for same Regards,
From India
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From India
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SALARY SHEET CALCULATION.xls
Salary calculation.doc