Hi All,
This is Sweha working as an HR in a newly established company in Hyderabad. I need information about salary calculation. How many days should we consider in a month, either 26 days or 30 days? If a person joins on the 24th of the month with a salary of 15k, what calculation should we follow?
Our calculation process is as follows:
Basic + DA - 50%
HRA - 20%
Medical - 10%
Misc - 1%
Conveyance - 6%
Education/Laptop - 13% on Gross
What should be the payment in such cases? On what basis should Loss of Pay be deducted if the person is absent?
Until now, we have calculated based on 30 days, and for a person joining on the 24th, we paid 4000K, as the daily rate is 500 and 500 * 8 = 4000K. Is this the correct method we are following, or is there a standard industry practice we should adhere to?
Awaiting your reply.
Thanks in Advance,
Sweha
From India, Hyderabad
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This is Sweha working as an HR in a newly established company in Hyderabad. I need information about salary calculation. How many days should we consider in a month, either 26 days or 30 days? If a person joins on the 24th of the month with a salary of 15k, what calculation should we follow?
Our calculation process is as follows:
Basic + DA - 50%
HRA - 20%
Medical - 10%
Misc - 1%
Conveyance - 6%
Education/Laptop - 13% on Gross
What should be the payment in such cases? On what basis should Loss of Pay be deducted if the person is absent?
Until now, we have calculated based on 30 days, and for a person joining on the 24th, we paid 4000K, as the daily rate is 500 and 500 * 8 = 4000K. Is this the correct method we are following, or is there a standard industry practice we should adhere to?
Awaiting your reply.
Thanks in Advance,
Sweha
From India, Hyderabad
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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
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81From India, Delhi
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Dear Swetha,
Salary calculations are done based on the number of days in the month, whether it be 31 or 30 days. If a person's salary is fixed, the calculation is carried out as follows: 26 days of work plus 4 days off, totaling 30 days, or 26 or 27 days of work plus 4 or 5 days off.
For example, if a person's salary is $5000 per month and they have perfect attendance, the calculation would be 30 multiplied by the per day wage, which is $5000 divided by 30. However, if the person is absent, the calculation is based on the number of days present multiplied by the per day wage. It is important to note that different companies may have varying methods of calculating the per day wage, some basing it on 26 days.
Therefore, the calculation for per day wage in this case would be $5000 divided by 26.
Thank you.
From India, Ahmadabad
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Salary calculations are done based on the number of days in the month, whether it be 31 or 30 days. If a person's salary is fixed, the calculation is carried out as follows: 26 days of work plus 4 days off, totaling 30 days, or 26 or 27 days of work plus 4 or 5 days off.
For example, if a person's salary is $5000 per month and they have perfect attendance, the calculation would be 30 multiplied by the per day wage, which is $5000 divided by 30. However, if the person is absent, the calculation is based on the number of days present multiplied by the per day wage. It is important to note that different companies may have varying methods of calculating the per day wage, some basing it on 26 days.
Therefore, the calculation for per day wage in this case would be $5000 divided by 26.
Thank you.
From India, Ahmadabad
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Hi Rajeev and Friend,
Thanks for your valuable suggestions. Let me also know if the calculation I mentioned in my post would be appropriate or not. It may differ from company to company. My director suggested me to calculate based on 30 days in a month. Am I going in the right way?
From India, Hyderabad
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Thanks for your valuable suggestions. Let me also know if the calculation I mentioned in my post would be appropriate or not. It may differ from company to company. My director suggested me to calculate based on 30 days in a month. Am I going in the right way?
From India, Hyderabad
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Hi Swetha,
Just giving you an example for that...
No. 1...
In February,
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 the days of calculation will be 28 days (not 30 days).
It will be 31 days for January,
and 30 days for April.
Hope you now have a fair idea of the salary calculation.
From India, Delhi
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Just giving you an example for that...
No. 1...
In February,
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 the days of calculation will be 28 days (not 30 days).
It will be 31 days for January,
and 30 days for April.
Hope you now have a fair idea of the salary calculation.
From India, Delhi
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Hello, This is pragathi working as a HR in a newlu established organization. Iam the one who has to make all the HR policies. Please tell me what hr policies should i follow in this situation
From India, Hyderabad
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From India, Hyderabad
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Dear kpragthi,
Below are a few topics that can be chosen to frame a policy. After that, you can consult organizations similar to yours and create policies based on them.
1. Human Resource
2. Grade of Employees, Structure of Pay Scale, and Facilities
3. Recruitment and Appointment
4. Leave Rules
5. Holidays
6. Office Timings
7. Identification, Attendance, and Identity Cards
8. Attendance and Late Coming
9. Entry and Exit
10. Overtime and Holiday Wages
11. Travel Rules
12. Leave Travel Assistance
13. Provident Fund/Gratuity
14. Group Gratuity Scheme
15. Other Social Security Schemes
16. Insurance Scheme
17. Performance Management System
18. Promotion Policy
19. Training and Development
20. Other Benefits
Please let me know if you need further assistance with any of these topics.
From India, Delhi
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Below are a few topics that can be chosen to frame a policy. After that, you can consult organizations similar to yours and create policies based on them.
1. Human Resource
2. Grade of Employees, Structure of Pay Scale, and Facilities
3. Recruitment and Appointment
4. Leave Rules
5. Holidays
6. Office Timings
7. Identification, Attendance, and Identity Cards
8. Attendance and Late Coming
9. Entry and Exit
10. Overtime and Holiday Wages
11. Travel Rules
12. Leave Travel Assistance
13. Provident Fund/Gratuity
14. Group Gratuity Scheme
15. Other Social Security Schemes
16. Insurance Scheme
17. Performance Management System
18. Promotion Policy
19. Training and Development
20. Other Benefits
Please let me know if you need further assistance with any of these topics.
From India, Delhi
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I need leave rules. can u tell me what is the number of paid leaves and waht are they.Which holidays are treated as paid holidays.
From India, Hyderabad
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From India, Hyderabad
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