When a new employee joins in the middle of the month, how do we calculate his salary for the first month?
We take 30 days per month formula to arriave at daily salary for loss of pays etc. If an employee joins on March 3rd. Should we consider 31st also and pay 29 days salary or should we consider upto 30th only and pay 28 days salary?
From India, Hyderabad
We take 30 days per month formula to arriave at daily salary for loss of pays etc. If an employee joins on March 3rd. Should we consider 31st also and pay 29 days salary or should we consider upto 30th only and pay 28 days salary?
From India, Hyderabad
167
You should consider the actual number of days as per the calendar month for the first month's pay calculation. Please find attached a short note illustrating the problem in using a fixed number of days (such as 30 or 31 for pay calculation).
The same logic applies for the calculation of last month's pay when an employee leaves an organization in the middle of a month.
T E Gautham
Tandem Integrated Business Solutions
From India, Madras
The same logic applies for the calculation of last month's pay when an employee leaves an organization in the middle of a month.
T E Gautham
Tandem Integrated Business Solutions
From India, Madras
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SALARY SHEET CALCULATION.xls
Salary calculation.doc