Per day calculation for the whole month is the best option available. ex.16000/30=533.33 533.33*16=8533.33
From India, Mandi
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1From India, Mandi
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I know one organization (MNC) following a different way to deal with monthly paid staff as mentioned below. It appears logical.
Daily wages are arrived at by (Monthly wage x 12) / 365. Loss of pay (LOP) in any month is determined by the number of days LOP x Daily wage. Gross salary will be (Monthly salary - LOP).
S K Bandyopadhyay (Howrah, WB)
USD HR Solutions
From India, New Delhi
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Daily wages are arrived at by (Monthly wage x 12) / 365. Loss of pay (LOP) in any month is determined by the number of days LOP x Daily wage. Gross salary will be (Monthly salary - LOP).
S K Bandyopadhyay (Howrah, WB)
USD HR Solutions
From India, New Delhi
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Great article, didn't know it before. Thanks.
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From Ukraine, Mykolayiv
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https://www.samedayessay.com/ is one of many services that allow you to hire a writer for an essay online. However, this is not like any other service; it is the best option available. Specialists here work in all areas of study, and we will assign the best writer at an affordable price. We also provide a guarantee of free revisions if you are not satisfied with the results of the work done.
From Ukraine, Mykolayiv
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From Ukraine, Kyiv
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From Ukraine, Kyiv
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As per statutory compliance, we consider actual working days excluding weekly offs as the factor for calculating per day salary. For example, if a month has 30 days and 4 weekly offs, then the workdays in the month are 26. Therefore, the Monthly salary divided by 26 days would be the per day salary. If an employee is called to work on a weekly off or a holiday, it amounts to overtime and should be paid at double the rate of the per day value. This allows us to satisfy the statutory obligations correctly.
From India, Vadodara
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From India, Vadodara
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A very simple calculation states here that if a person has worked for a number of days, that person should be paid according to their one-day salary. Following this logic, the person should receive 16 days' worth of salary as they were present for 16 days. It is also important to note that it doesn't matter if the month has 30 or 31 days since the person was absent on the remaining days.
From India, Nagpur
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From India, Nagpur
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Dear Kishor,
I think if the salary is paid on a monthly basis, then there should not be an issue with calculations. However, you have to divide the gross salary by the number of days in a month and multiply by the PR days.
Thanks.
Regards,
Nilesh
From India, Mumbai
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I think if the salary is paid on a monthly basis, then there should not be an issue with calculations. However, you have to divide the gross salary by the number of days in a month and multiply by the PR days.
Thanks.
Regards,
Nilesh
From India, Mumbai
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When you are following a uniform 30 days per month, pro-rata salary will be calculated as: Gross Salary - (Absent days x Daily salary)
Gross salary = Rs. 45,000 Daily Salary = Rs. 1,500
June July Present 14 14 Absent 16 17 Loss of pay 24,000 25,500 Salary payable 21,000 19,500
From India, Bidar
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Gross salary = Rs. 45,000 Daily Salary = Rs. 1,500
June July Present 14 14 Absent 16 17 Loss of pay 24,000 25,500 Salary payable 21,000 19,500
From India, Bidar
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Dear Kishore,
To calculate monthly basis salary:
For example, if an employee's salary is 15000/- per month,
15000 / Monthly Days * Total Present days (Including Week Off, NH, Leave, etc).
15000
-----------------
X Total Present days
Monthly Days
Thank you.
From India
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To calculate monthly basis salary:
For example, if an employee's salary is 15000/- per month,
15000 / Monthly Days * Total Present days (Including Week Off, NH, Leave, etc).
15000
-----------------
X Total Present days
Monthly Days
Thank you.
From India
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Hello Mr. Kishore,
I believe this is not the correct way to calculate salary. If this situation occurs in the month of February, the company does not inquire about it. In such cases, the company directly deducts the salary for 15 days out of 28 days and processes payment for 13 days. This results in a loss for the employee. Therefore, if you adhere to this process, you should pay for 16 days of salary or divide the salary by 31 days and pay for 16 days.
Example: If an employee's salary is 10,000
10,000/30 = 333/day
16 days = 5,328
10,000/31 = 322/day
16 days = 5,072
Thank you.
From India, Mumbai
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I believe this is not the correct way to calculate salary. If this situation occurs in the month of February, the company does not inquire about it. In such cases, the company directly deducts the salary for 15 days out of 28 days and processes payment for 13 days. This results in a loss for the employee. Therefore, if you adhere to this process, you should pay for 16 days of salary or divide the salary by 31 days and pay for 16 days.
Example: If an employee's salary is 10,000
10,000/30 = 333/day
16 days = 5,328
10,000/31 = 322/day
16 days = 5,072
Thank you.
From India, Mumbai
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