Hi All,
This is Sweha working as HR in a newly established company at Hyderabad. Need a information about salary calculation, in the sense
For How many days we need to consider in a month, either 26 days or 30 days?
If a person is Joined on 24th of the month? and his/her salary is 15k then what is the calaculation we need to do?
We follow this process for calculation:
Basic+DA-50%
HRA-20%
Meidcal-10%
Misc-1%
Conv-6%
Edu/Laptop-13% on Gross
So what should be my payment in such cases?
On what basis i need to deduct Loss of Pay if the person is absent.
Till now we did it on 30 days and the person joined on 24th, we paid 4000K,as per day is 500 and 500*8=4000K
Is this the right way we are following or else let me know exact process how industries usually follow?
Awaiting for your reply
Thanks in Advance
Swetha
From India, Hyderabad
This is Sweha working as HR in a newly established company at Hyderabad. Need a information about salary calculation, in the sense
For How many days we need to consider in a month, either 26 days or 30 days?
If a person is Joined on 24th of the month? and his/her salary is 15k then what is the calaculation we need to do?
We follow this process for calculation:
Basic+DA-50%
HRA-20%
Meidcal-10%
Misc-1%
Conv-6%
Edu/Laptop-13% on Gross
So what should be my payment in such cases?
On what basis i need to deduct Loss of Pay if the person is absent.
Till now we did it on 30 days and the person joined on 24th, we paid 4000K,as per day is 500 and 500*8=4000K
Is this the right way we are following or else let me know exact process how industries usually follow?
Awaiting for your reply
Thanks in Advance
Swetha
From India, Hyderabad
Hi Swetha, Calculation are done on the basis of number of days in the month for which the salary is to be processed.
From India, Delhi
77From India, Delhi
Dear Swetha,
Salary calculation are done on the days of the month if there even if 31 or 30 days. if persons salary is fixed than his calculation is calculated like 26 days + 4 week off that is 30 days and 26 or 27+4or 5 week off.
i.e. if persons salary is 5000 per month than if his attendance is full than calculation will be 30* per day wages. that is 5000/30
and if peron is absent than calculate it by no. of days present and per day wages. it depends on company to company some company calculates per day wage by 26 days.
i.e. 5000/26 = per day wage
From India, Ahmadabad
Salary calculation are done on the days of the month if there even if 31 or 30 days. if persons salary is fixed than his calculation is calculated like 26 days + 4 week off that is 30 days and 26 or 27+4or 5 week off.
i.e. if persons salary is 5000 per month than if his attendance is full than calculation will be 30* per day wages. that is 5000/30
and if peron is absent than calculate it by no. of days present and per day wages. it depends on company to company some company calculates per day wage by 26 days.
i.e. 5000/26 = per day wage
From India, Ahmadabad
Hi Rajeev and Friend, Thanks for your valueble suggestions, so let me also know that the calculation which i mentioned in my post would be appropriate or not, it may differs from company to company, my director suggested me to calculate on 30 days in month.so am i going in right way?
From India, Hyderabad
From India, Hyderabad
Hi Swetha,
just giving you an example for that.........
No. 1.........
In Feb.,
let Total days ......... 28
Total working days ... 24
Sunday or W/Off ...... 4
D.O.J. ................... 21.02.2008
His salary will be calculated for 8 Days.....
and days of calculation will be 28 days. (not 30 Days )
It will be 31 days for January......
and 30 Days for April............
Hope now might have got the fair amount of idea for the Salary calculation.
From India, Delhi
just giving you an example for that.........
No. 1.........
In Feb.,
let Total days ......... 28
Total working days ... 24
Sunday or W/Off ...... 4
D.O.J. ................... 21.02.2008
His salary will be calculated for 8 Days.....
and days of calculation will be 28 days. (not 30 Days )
It will be 31 days for January......
and 30 Days for April............
Hope now might have got the fair amount of idea for the Salary calculation.
From India, Delhi
Dear kpragthi,
Below are the few topics which can be choosen to frame a policy, after that you can concern the organisations similar to your organisations and frame them.
1. Human Resource
2. Grade of Employees & Structure of Pay scale & Facilities
3. Recruitment & Appointment
4. Leave Rules
4. Holidays
5. Office Timings
6. Identification, Attendance & Identity Cards
7. Attendance & Late Coming
8. Entry & Exit
9. Overtime & Holiday Wages
10. Travel Rule
11. Leave Travel Assistance
12. Provident Fund/ Gratuity
13. Group Gratuity Scheme
14. Other Social Security Scheme
15. Insurance Scheme
16. Performance Management System
17. Promotion Policy
18. Training & Development
19. Other Benefits
From India, Delhi
Below are the few topics which can be choosen to frame a policy, after that you can concern the organisations similar to your organisations and frame them.
1. Human Resource
2. Grade of Employees & Structure of Pay scale & Facilities
3. Recruitment & Appointment
4. Leave Rules
4. Holidays
5. Office Timings
6. Identification, Attendance & Identity Cards
7. Attendance & Late Coming
8. Entry & Exit
9. Overtime & Holiday Wages
10. Travel Rule
11. Leave Travel Assistance
12. Provident Fund/ Gratuity
13. Group Gratuity Scheme
14. Other Social Security Scheme
15. Insurance Scheme
16. Performance Management System
17. Promotion Policy
18. Training & Development
19. Other Benefits
From India, Delhi
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Salary-Note.doc
SALARY SHEET CALCULATION.xls