Shenbagarajan is trying to explain the payroll in general. the others are posting what they are following blindly in their company.
@Sharmila, can u share the excel sheet for Feb or Mar where the month days are not 30. Bcoz in your sheet it is for Apr where the calculation is easy. the issue going on is for the above or below 30days in a month.
From India, Hyderabad
9@Sharmila, can u share the excel sheet for Feb or Mar where the month days are not 30. Bcoz in your sheet it is for Apr where the calculation is easy. the issue going on is for the above or below 30days in a month.
From India, Hyderabad
Hi brindha, As per Mr.shenbagarajan, Actual Salary = Gross Salary / No. of Days in the month * No of days worked + Week -off which one is right? please guide me. thanks, dhana
From India, Chennai
From India, Chennai
Dear Dhana,
forget about weak offs at first point. Shenbagarajan's explanation is against to only LOP or absent whatever you take for your understanding. only the absent days are to be deducted from the month.
Say 2 absents(unpaid leaves) in march for 10000 salary employee
the actual paid is 10000/31*29. as simple as it is. clearly deducting 2 absent days from 31days of the month.
From India, Hyderabad
forget about weak offs at first point. Shenbagarajan's explanation is against to only LOP or absent whatever you take for your understanding. only the absent days are to be deducted from the month.
Say 2 absents(unpaid leaves) in march for 10000 salary employee
the actual paid is 10000/31*29. as simple as it is. clearly deducting 2 absent days from 31days of the month.
From India, Hyderabad
Dear All, Hope this excel will help you out. check and revert. Not added the PF & ESI deduction. you just change the LOP the salary will be calculated automatically.
From India, Mumbai
From India, Mumbai
The attached by Shenbagarajan is generally accepted anywhere.
Else the companies are following differently from the beginning and the people joined after are simply following the previous sheet without knowing the actual process.
From India, Hyderabad
Else the companies are following differently from the beginning and the people joined after are simply following the previous sheet without knowing the actual process.
From India, Hyderabad
It is as per the IT rules, the same can be read in Tax laws.
Basic = As defined by the company
HRA = 40% or 50% of basic (non metros and metros respectively)
Transport Allowance = 800 per month
Medical Allownace - 1250 per month (Medical should be submitted else taxable component)
remaining can be shown as other allowance/book allowance/special allowance/ executive allowance whatever you call it as a taxable component.
From India, Hyderabad
Basic = As defined by the company
HRA = 40% or 50% of basic (non metros and metros respectively)
Transport Allowance = 800 per month
Medical Allownace - 1250 per month (Medical should be submitted else taxable component)
remaining can be shown as other allowance/book allowance/special allowance/ executive allowance whatever you call it as a taxable component.
From India, Hyderabad
Hi santhosh, Thanks. So for example If A:March Month: 27 days working days. here 10000/27*no.of days worked 10000/27 *27=10000 370.37*27=9999.99=>10000 Am i Rite? thanks, santhosh
From India, Chennai
From India, Chennai
Dear Sir / Madam,
I am working in public motor transport company.we are following 28/29/30/31 days caluclation. scheduled employments in respect of which minimum rates of wages have been fixed for public motor transport worker is Rs.4750/ per month.
Please advice me what we are caluclating is correct or wrong
With Warm regards
Shobana
From India, Bangalore
I am working in public motor transport company.we are following 28/29/30/31 days caluclation. scheduled employments in respect of which minimum rates of wages have been fixed for public motor transport worker is Rs.4750/ per month.
Please advice me what we are caluclating is correct or wrong
With Warm regards
Shobana
From India, Bangalore
Hi
calculating salary can be done in two ways
1) gms / 30 (irrespective of actual no of days in the month)X acutal no of days payable,
2) gms / total no of days in the month X no of days payable
you should follow one formule forever. it may help to convince others. Normally, all companies follow 30 days commonly for all the months. Auditors also accept this procedure. otherwise it may lead to wrong calcuation.
From India, Hyderabad
calculating salary can be done in two ways
1) gms / 30 (irrespective of actual no of days in the month)X acutal no of days payable,
2) gms / total no of days in the month X no of days payable
you should follow one formule forever. it may help to convince others. Normally, all companies follow 30 days commonly for all the months. Auditors also accept this procedure. otherwise it may lead to wrong calcuation.
From India, Hyderabad
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