Hi,
Please advise if the salary is calculated based on the number of days in a month or if 30 days is considered the standard in India.
I recently joined a new company where I worked for 23 days without taking any leaves. The company calculated my daily salary by dividing my monthly salary by 31. Is this the standard process?
Thanks
From India
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Please advise if the salary is calculated based on the number of days in a month or if 30 days is considered the standard in India.
I recently joined a new company where I worked for 23 days without taking any leaves. The company calculated my daily salary by dividing my monthly salary by 31. Is this the standard process?
Thanks
From India
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Salary calculation from monthly to daily is followed by different organizations by different methods. Only in MW Act and PG Act is it mentioned to arrive at the daily rate from the monthly rate - the monthly rate is to be divided by 26.
There are organizations that use factors such as 31/30/29/28 to determine daily wages as applicable in a particular month. Some organizations use only the factor 30 to determine the daily rate.
I have come across one organization, an MNC, where for arriving at the daily rate, the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi
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409There are organizations that use factors such as 31/30/29/28 to determine daily wages as applicable in a particular month. Some organizations use only the factor 30 to determine the daily rate.
I have come across one organization, an MNC, where for arriving at the 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