Dear
It is but natural you will be eligble for full month salary in the month of February whether it is of 28 or 29 days. if the employee has worked for all working days in the month of feb, full salary is required to be paid.
Regards
R B Yadav
Advocate
From India, Mumbai
114It is but natural you will be eligble for full month salary in the month of February whether it is of 28 or 29 days. if the employee has worked for all working days in the month of feb, full salary is required to be paid.
Regards
R B Yadav
Advocate
From India, Mumbai
Dear All,
To make it more clear (or to make you more confused), I would say as under:
As regards to daily rated employees:
Rate per day multiply by no. of days worked or payable. There should not be ambiguity of any kind.
As regards to monthly rated employees:
Rate per month means your salary per month inclusive of your weekly off days and holidays. When you work full month with out any loss of pay day, you should get full salary.
In most of the corporates, the dividing factor to calculate the rate per day, is the number of calendar days.
However, I have seen long years back a company having 30 as a fix dividing factor in all month irrespective of calendar days. It was told to me that, this is an american style. Salary is calculated on the basis of loss of pay days. That means, salary for loss of days is subtracted from monthly rate. Monthly salary is given to staff or while collar people and the company presume that such category do not have loss of pay days generally.
Hope you are confused by me. I just thought of sharing what I know.
From India, Mumbai
To make it more clear (or to make you more confused), I would say as under:
As regards to daily rated employees:
Rate per day multiply by no. of days worked or payable. There should not be ambiguity of any kind.
As regards to monthly rated employees:
Rate per month means your salary per month inclusive of your weekly off days and holidays. When you work full month with out any loss of pay day, you should get full salary.
In most of the corporates, the dividing factor to calculate the rate per day, is the number of calendar days.
However, I have seen long years back a company having 30 as a fix dividing factor in all month irrespective of calendar days. It was told to me that, this is an american style. Salary is calculated on the basis of loss of pay days. That means, salary for loss of days is subtracted from monthly rate. Monthly salary is given to staff or while collar people and the company presume that such category do not have loss of pay days generally.
Hope you are confused by me. I just thought of sharing what I know.
From India, Mumbai
Dear Aradhana
Presumably you are in the salary class of emplyees wherein the remuneration is paid on monthly basis and not on daily basis. That being the case, it should not make any difference in salary amount based on the number of days in the month. Perhaps you were never paid for one extra day in the months which has 31 days, like wise there should not be a cut in salary for February having 28 days or 29 days once in 4 years.
Best wishes
M. M. Rao
From India, Ahmadabad
Presumably you are in the salary class of emplyees wherein the remuneration is paid on monthly basis and not on daily basis. That being the case, it should not make any difference in salary amount based on the number of days in the month. Perhaps you were never paid for one extra day in the months which has 31 days, like wise there should not be a cut in salary for February having 28 days or 29 days once in 4 years.
Best wishes
M. M. Rao
From India, Ahmadabad
Formula is simple (Which I am giving to employees)
You will get as below mentioned:-
your monthly gross salary/Month days except weekly offs(Sunday)*your present days = whatever it comes
(Over timing & weekly off work will be depend up on the organizations payable or not payable)
Regards
Mohan Nair
From India, Mumbai
You will get as below mentioned:-
your monthly gross salary/Month days except weekly offs(Sunday)*your present days = whatever it comes
(Over timing & weekly off work will be depend up on the organizations payable or not payable)
Regards
Mohan Nair
From India, Mumbai
Dear all,
When salary/wages payable on monthly basis, no. Of days in a month does not have any effect on quantum of salary/wages. However, when leave is availed, deduction towards the same shall be based on the days in the month. That is salary divided by no. of days in the month multiplied by no. of days present.
Rgds.
From India, Mumbai
When salary/wages payable on monthly basis, no. Of days in a month does not have any effect on quantum of salary/wages. However, when leave is availed, deduction towards the same shall be based on the days in the month. That is salary divided by no. of days in the month multiplied by no. of days present.
Rgds.
From India, Mumbai
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Salary-Note.doc
SALARY SHEET CALCULATION.xls