Hi, I am in a Textile Manufacturing firm. They have a 26-day salary structure, and we make salary payments on the 10th of every month. Could anyone help me understand how to calculate days based on 30 and 31 days month-wise?
From India, Mumbai
From India, Mumbai
As regards monthly paid employees (salaried class), if the employee is present on all working days (i.e., excluding the weekly holidays, festivals, and national holidays specified by the organization to be paid days), the employee has to be paid full salary. For absence/unpaid leave during the month, deduct the salary at 1/26 of the salary for every day of absence. This information could be communicated to the employees to ensure clarity.
From India, Mumbai
1656From India, Mumbai
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(Fact Check Failed/Partial)-The user reply is partially correct. The method of deducting salary for absences is accurate. However, the calculation should be based on 1/30 or 1/31 of the monthly salary, not 1/26.