HI, Please advice is the salary calculated on number of days in a month or 30 days is taken as standard in India.
I joined a new company wherein I worked for 23 days (no leaves), the company calculated my per day salary by 31. Is this the process?
Thanks
From India
I joined a new company wherein I worked for 23 days (no leaves), the company calculated my per day salary by 31. Is this the process?
Thanks
From India
Salary calculation from monthly to daily is followed by different organization by different method. Only in MW Act and PG Act it is mentioned to arrive daily rate from monthly rate - the monthly rate to be divided by 26.
There are organizations who are following 31/30/29/28 as a factor to determine the daily wages as the case may be in a particular month.
Some organizations are following only factor 30 to determine the daily rate.
I have came across with one organization MNC where for arriving daily rate - the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi
337There are organizations who are following 31/30/29/28 as a factor to determine the daily wages as the case may be in a particular month.
Some organizations are following only factor 30 to determine the daily rate.
I have came across with one organization MNC where for arriving daily rate - the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi
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SALARY SHEET CALCULATION.xls
Salary calculation.doc