13
Salary may be hourly basis, daily basis or monthly basis. Now the question is if the salary is paid in monthly basis, how daily salary will be determined. There are two acts Minimum wages Act and Payment of Gratuity Act where it is mentioned that to determine daily salary divide the monthly salary by 26.
There is no other guideline from any other Act rather there are several practices. Some organizations arrive by dividing monthly salary by 30, some others divide by 31/30/28/29 as the case may be in a particular month when daily rate is vary from month to month.
I have noticed in one MNC they are arriving daily salary by multiplying month salary by 12 and then dividing by 365.
From India, New Delhi
There is no other guideline from any other Act rather there are several practices. Some organizations arrive by dividing monthly salary by 30, some others divide by 31/30/28/29 as the case may be in a particular month when daily rate is vary from month to month.
I have noticed in one MNC they are arriving daily salary by multiplying month salary by 12 and then dividing by 365.
From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Calculate Your Age.xls
Guidelines to Calculate the Net Worth of Human Capital.pdf