Dear All,
I am working for a software development company. I need a small clarification. Normally, how is the Loss of Pay calculated? Is it calculated including the weekends i.e. salary divided by 30 days and multiplied by days payable, or salary divided by 22 days(excluding week ends) and multiplied by days payable.As far as I know in Indian companies, the salary is paid per month basis and also for the purpose of calculation we calculate with 30 days pro-rated. I heard in US companies it is vice-versa, the salary is paid for 22 days and LOP calculation is also done for 22 days.
Please let me know how is it done in Indian software companies.
Thanks
Geetanjali
From India, Hyderabad
1I am working for a software development company. I need a small clarification. Normally, how is the Loss of Pay calculated? Is it calculated including the weekends i.e. salary divided by 30 days and multiplied by days payable, or salary divided by 22 days(excluding week ends) and multiplied by days payable.As far as I know in Indian companies, the salary is paid per month basis and also for the purpose of calculation we calculate with 30 days pro-rated. I heard in US companies it is vice-versa, the salary is paid for 22 days and LOP calculation is also done for 22 days.
Please let me know how is it done in Indian software companies.
Thanks
Geetanjali
From India, Hyderabad
Hi All, Every one is saying salary/no of days in a month * no of days worked Can any one tel us what does it mean salary is it Gross or NTH or CTC Thanks Rajesh Kumar
From India, Hyderabad
From India, Hyderabad
For calculation of LOP actual scheduled working days will have to be taken into account - for example in a month if the scheduled working days are 26 then for every LOP days the employee will lose 1/26 days salary instead of 1/31 days. Then only the loss will be more and the employee will be discouraged not to be on LOP.
From India, Bangalore
From India, Bangalore
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