Hello
For monthly rated employees, you can have a policy of calculating 30 days as a month for all months. It has an impact on calculating loss of pay leave, leave encashment and OT Or if a person joins in between , for calculating salary for the period.
I had been following 30 days formula on all months.
You can even think in terms of arriving at a days salary by dividing by 365 days or 366 days. But i still will advise using 30 days.
Siva
From India, Chennai
368For monthly rated employees, you can have a policy of calculating 30 days as a month for all months. It has an impact on calculating loss of pay leave, leave encashment and OT Or if a person joins in between , for calculating salary for the period.
I had been following 30 days formula on all months.
You can even think in terms of arriving at a days salary by dividing by 365 days or 366 days. But i still will advise using 30 days.
Siva
From India, Chennai
Dear friends,
Let me share my view, that is if one's salary is 25000, we are going to pay 25000 for all months irrespective of working days in any month. If you want to calculate Loss of pay, then you have to devide 25000/- with 26 days and that you have to deduct from salary.
Regards
PT Rameshan
From India, Tiruppur
Let me share my view, that is if one's salary is 25000, we are going to pay 25000 for all months irrespective of working days in any month. If you want to calculate Loss of pay, then you have to devide 25000/- with 26 days and that you have to deduct from salary.
Regards
PT Rameshan
From India, Tiruppur
Hi,
It may be a 29 days or 30 days or 31 days in month we are fix the salary to employees for a month for example Rs.50000
If u are specifically inform to employee this salary of Rs. 50000 for the 30 days means you should pay 1 day extra pay in the month of 31 days
So as for that you are pay only 29 days salary for the Feb month Rs.50000/30*29
This is as per my knowledge,
but we are paid to employees one month salary for this month. i.e., Rs.50000
thanks,
Radhigasaravanan
From India, Madras
It may be a 29 days or 30 days or 31 days in month we are fix the salary to employees for a month for example Rs.50000
If u are specifically inform to employee this salary of Rs. 50000 for the 30 days means you should pay 1 day extra pay in the month of 31 days
So as for that you are pay only 29 days salary for the Feb month Rs.50000/30*29
This is as per my knowledge,
but we are paid to employees one month salary for this month. i.e., Rs.50000
thanks,
Radhigasaravanan
From India, Madras
dear
the employee who has all 29 days present you will give him 30day or whole month salary on the other hand if any body join on 16th day so firstly you will calculate his salary per day slaray according to 30 days i.e
salary 50000/=
joining date 16th
formula must be 50000/30= 1667 per day salary
now 14 * 1667= 23338
if u have any other confusion to feel free to ask me
regards
shahzad
From Pakistan, Karachi
the employee who has all 29 days present you will give him 30day or whole month salary on the other hand if any body join on 16th day so firstly you will calculate his salary per day slaray according to 30 days i.e
salary 50000/=
joining date 16th
formula must be 50000/30= 1667 per day salary
now 14 * 1667= 23338
if u have any other confusion to feel free to ask me
regards
shahzad
From Pakistan, Karachi
Hi all,
If the employee has worked for the entire month, then it doesn't matter, how many days the month has. The employee will get the full month's salary.
In case of a newly joined employee for any particular month, we have to calculate salary based on number of days worked.
Such cases are best solved by finding out per day salary based on 365 days.
Ex: Gross Salary 10000/- per month.
Then per day salary will be: 10000 x 12 / 365 = Rs 328.75
Therefore, if someone is present for 25 days in February, his salary will be,
Rs 328.75 x 25 = Rs 8218.75
This process solves a lot of complications and a lot of us are actually using this system.
Thanks,
Shaswati Datta
From India, Calcutta
If the employee has worked for the entire month, then it doesn't matter, how many days the month has. The employee will get the full month's salary.
In case of a newly joined employee for any particular month, we have to calculate salary based on number of days worked.
Such cases are best solved by finding out per day salary based on 365 days.
Ex: Gross Salary 10000/- per month.
Then per day salary will be: 10000 x 12 / 365 = Rs 328.75
Therefore, if someone is present for 25 days in February, his salary will be,
Rs 328.75 x 25 = Rs 8218.75
This process solves a lot of complications and a lot of us are actually using this system.
Thanks,
Shaswati Datta
From India, Calcutta
Hi
For monthly rated employees generally we can follow 30 days principle
It works as under
Let us assume Monthly salary as Rs 3000/
1.A person Joining on 1st of any month gets full salary of rs 3000/
2.A person joins say in January on 10th. Let us take a month is always 30 days. He will lose 10 days salary. Then we deduct 10*100 = Rs 1000 from his full months salary of Rs 3000. That means he gets Rs 2000/
3. A person joins on 10th of February. He again loses 10 days salary We again deduct 10*100= Rs 1000 from his full salary and he gets Rs 2000/
4. A person joins on 10th of March. Apply the same principle. He gets Rs 2000/
This is how monthly salary need to be worked out
We can also work on 26 days. But for monthly rated employees we suggest the above method. We dont calculate for 28 days and 29 days and 31 days or 30 days. We need to arrive at a common per day salary and having 30 as a denominator makes it uniform.
Siva
From India, Chennai
For monthly rated employees generally we can follow 30 days principle
It works as under
Let us assume Monthly salary as Rs 3000/
1.A person Joining on 1st of any month gets full salary of rs 3000/
2.A person joins say in January on 10th. Let us take a month is always 30 days. He will lose 10 days salary. Then we deduct 10*100 = Rs 1000 from his full months salary of Rs 3000. That means he gets Rs 2000/
3. A person joins on 10th of February. He again loses 10 days salary We again deduct 10*100= Rs 1000 from his full salary and he gets Rs 2000/
4. A person joins on 10th of March. Apply the same principle. He gets Rs 2000/
This is how monthly salary need to be worked out
We can also work on 26 days. But for monthly rated employees we suggest the above method. We dont calculate for 28 days and 29 days and 31 days or 30 days. We need to arrive at a common per day salary and having 30 as a denominator makes it uniform.
Siva
From India, Chennai
Hello Frnds..
i would like to share my opinion on the issue. and m sure that this is as per Indian Payrolls
the formula for calculation of Pay for a particular month is
Salary/ no of days in a month * no of Payble days [Attendance for that particular month which includes weekly off & Leaves]
& if u have ny query regarding such issue feel free to contact me at give id
Regards
Lokesh Sharma
From India, Delhi
i would like to share my opinion on the issue. and m sure that this is as per Indian Payrolls
the formula for calculation of Pay for a particular month is
Salary/ no of days in a month * no of Payble days [Attendance for that particular month which includes weekly off & Leaves]
& if u have ny query regarding such issue feel free to contact me at give id
Regards
Lokesh Sharma
From India, Delhi
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SALARY SHEET CALCULATION.xls
Salary calculation.doc