Hi HR Professionals,
I would like to know hoe is the salary calculated for the month. Is it 30 days standard for all the year or acc to number of days in a month like in the month of Feb will it be calculated for 29 days or 30 days?
Regards,
Deepti
From India, Delhi
I would like to know hoe is the salary calculated for the month. Is it 30 days standard for all the year or acc to number of days in a month like in the month of Feb will it be calculated for 29 days or 30 days?
Regards,
Deepti
From India, Delhi
See, it is diffrent for Monthly Paid and Daily Paid salary. If you are calculating for monthly rated employee then you have to use Fixed Salary/month days*Payable Days and for daily rated Employee the formula will be Fixed salary*Payable Days.
(In case of Monthly Paid, Payable Days includes Actual Present Days+Paid Holidays+Weekly Off+Leaves and incase of daily Wages weekly off will not be Payable)
For Calculating Leave Encashment use 30 and for Gratuity use 26 as devider.
Regards,
Vijay Dere
From India, Pune
3(In case of Monthly Paid, Payable Days includes Actual Present Days+Paid Holidays+Weekly Off+Leaves and incase of daily Wages weekly off will not be Payable)
For Calculating Leave Encashment use 30 and for Gratuity use 26 as devider.
Regards,
Vijay Dere
From India, Pune
Mr vijay dere
there is any law or act to calculate EL for30 days
you are calculating u have to use Fixed Salary/month days*Payable Days and for daily rated Employee the formula will be Fixed salary*Payable Days.
(In case of Monthly Paid, Payable Days includes Actual Present Days+Paid Holidays+Weekly Off+Leaves and incase of daily Wages weekly off will not be Payable)
For Calculating Leave Encashment use 30 and for Gratuity use 26 as devider.
From India, Guntur
there is any law or act to calculate EL for30 days
you are calculating u have to use Fixed Salary/month days*Payable Days and for daily rated Employee the formula will be Fixed salary*Payable Days.
(In case of Monthly Paid, Payable Days includes Actual Present Days+Paid Holidays+Weekly Off+Leaves and incase of daily Wages weekly off will not be Payable)
For Calculating Leave Encashment use 30 and for Gratuity use 26 as devider.
From India, Guntur
Mr. Kalijanni, No there is no any act or law but monthly paid employees are getting salary generaly for 30 days .That’s why, r u got my point?
From India, Pune
From India, Pune
Dear Deepti,
use the following formula for easy understanding.
Monthly Salary = Gross Salary/ No. of days in the month * No of days present in the month.
If an employee is getting gross salary of Rs. 8000/-.
Then his salary will be as follows if he is present on all days.
For 31 days , Monthly salary = 8000/31*31 = Rs.8000/-
For 30 days , Monthly salary = 8000/30*30 = Rs.8000/-
For 28 days , Monthly salary = 8000/28*28 = Rs.8000/-.
If any LOP just deduct the no. of days present in the month.
From India, Mumbai
use the following formula for easy understanding.
Monthly Salary = Gross Salary/ No. of days in the month * No of days present in the month.
If an employee is getting gross salary of Rs. 8000/-.
Then his salary will be as follows if he is present on all days.
For 31 days , Monthly salary = 8000/31*31 = Rs.8000/-
For 30 days , Monthly salary = 8000/30*30 = Rs.8000/-
For 28 days , Monthly salary = 8000/28*28 = Rs.8000/-.
If any LOP just deduct the no. of days present in the month.
From India, Mumbai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc