What is the standard date to make salary payment every month whether it’s 30 days or 31 days? And on what basis the salary gets deducted for absence?
From India, Gurgaon
6From India, Gurgaon
The salary statement is prepared based on the wage month. It varies from organisation to organisation, very commonly used is from 25th of previous month to 24th of present month or from 28th to 27th etc depending on the size of workforce. Most of the organisations don't make calander month to be the wage month as there will be then hardly any time left for preparing wage bill and disbursement. The number of working day could be 27/26 in normal months and for February it could be 25 or 24 as is the case. So depending on the total number of working days in which the employee is present out of the total working days in the month, proportionate salary is payable.
From India, Mumbai
From India, Mumbai
Wage month is of 26 or27 day excluding wekly off.If employees work for weekly off days then its the overtime they did.
Salary is calculated as per wage month.
Salary amount/working days in a month = per day salary
Therefore per day salary x work days present = salary earned.
Net salary = salary earned - statutory deductions & other deductions.
Hope this helps.
Else connect at
.
For pay roll management outsourcing.
From India, Vadodara
Salary is calculated as per wage month.
Salary amount/working days in a month = per day salary
Therefore per day salary x work days present = salary earned.
Net salary = salary earned - statutory deductions & other deductions.
Hope this helps.
Else connect at
For pay roll management outsourcing.
From India, Vadodara
Dear colleague,
If your wage period is monthly and your employees are monthly rated, then weekly off days are paid days.
If you pay/ deposit by bank transfer on the last day of the month or on the 1st of next month , it does not matter whether a month consists of 30, 31, 28 or 29 days.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
If your wage period is monthly and your employees are monthly rated, then weekly off days are paid days.
If you pay/ deposit by bank transfer on the last day of the month or on the 1st of next month , it does not matter whether a month consists of 30, 31, 28 or 29 days.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
The standard date to make salary should not be exceeded by every 5th day of the month as there are people who are all dependent on their monthly allowances no matter the days of the month. there should not be a time-bound barrier for the salary deduction it should solely dependent on completing the total working hours, and the amount of work hard and also over time.
Regards,
Pooja Singh,
8588885535,
Education Consultant at NMIMS Distance Learning Programs in Management Studies
From India, Gurgaon
Regards,
Pooja Singh,
8588885535,
Education Consultant at NMIMS Distance Learning Programs in Management Studies
From India, Gurgaon
Dear colleague,
As per the amended Payment of Wages Act, the wages to employees drawing up to Rs 24000/-pm are to be paid on or before the 7th day from the end of the wage period if the employee strength is 1000 and on or before 10 th day if employee strength exceeds 1000.
Usually factory workers who are daily rated , are paid as per above legal provisions.
But for monthly rated staff employed in the commercial establishments, are paid salary on the last day of the month or on 1 at of the next month.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
As per the amended Payment of Wages Act, the wages to employees drawing up to Rs 24000/-pm are to be paid on or before the 7th day from the end of the wage period if the employee strength is 1000 and on or before 10 th day if employee strength exceeds 1000.
Usually factory workers who are daily rated , are paid as per above legal provisions.
But for monthly rated staff employed in the commercial establishments, are paid salary on the last day of the month or on 1 at of the next month.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
The standard date for salary payment can vary depending on the country, industry, and specific company policies. In many countries, employers are required to pay their employees on a specific date or within a specific time frame, such as bi-weekly or monthly.
In the United States, for example, the standard date for salary payment is typically the 15th and the last day of the month, or on the nearest business day if the regular pay date falls on a weekend or holiday. However, some companies may have their own specific pay schedules, such as every two weeks or twice a month.
In other countries, such as India, the standard date for salary payment is typically the last day of the month or the 7th of the following month, although this can vary depending on the industry and company policies.
It's important for both employers and employees to be aware of their company's policies regarding salary payment and to adhere to any legal requirements set forth by their country's labor laws.
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From India, Doiwala
In the United States, for example, the standard date for salary payment is typically the 15th and the last day of the month, or on the nearest business day if the regular pay date falls on a weekend or holiday. However, some companies may have their own specific pay schedules, such as every two weeks or twice a month.
In other countries, such as India, the standard date for salary payment is typically the last day of the month or the 7th of the following month, although this can vary depending on the industry and company policies.
It's important for both employers and employees to be aware of their company's policies regarding salary payment and to adhere to any legal requirements set forth by their country's labor laws.
Visit for more answers to such related questions - https://shikshagurus.com/course-cate...e-development/
From India, Doiwala
The standard date for salary payment typically depends on once company's policy, but it's often around the end of the month, such as the last working day.
Salary deduction for absence is usually based on the number of days an employee is absent from work. This deduction is typically calculated on a pro-rata basis, meaning the salary is reduced proportionately for the days of absence. The specific method for calculating deductions may vary depending on the company's policies and applicable labor laws.
Kind Regards,
Mayank
Education Counselor at <a href="https://www.learningroutes.in/">Learning Routes</a>
From India, Delhi
Salary deduction for absence is usually based on the number of days an employee is absent from work. This deduction is typically calculated on a pro-rata basis, meaning the salary is reduced proportionately for the days of absence. The specific method for calculating deductions may vary depending on the company's policies and applicable labor laws.
Kind Regards,
Mayank
Education Counselor at <a href="https://www.learningroutes.in/">Learning Routes</a>
From India, Delhi
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