Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear Ram V.
The Salary of an employee depends upon his salary rate i.e. piece rate, daily rate or monthly base rate.
Mostly companies are adopting monthly wage rate system.
It can be calculated as Monthly wage rate*no.of days worked/total no. of days in that month.
E.g. If an employee joins of 16 of January at a gross salary of 10000,then his salary will be
= 10000*16/31
= 5161 Rs.
In the same way we can calculate the others salary
From India, Palwal
The Salary of an employee depends upon his salary rate i.e. piece rate, daily rate or monthly base rate.
Mostly companies are adopting monthly wage rate system.
It can be calculated as Monthly wage rate*no.of days worked/total no. of days in that month.
E.g. If an employee joins of 16 of January at a gross salary of 10000,then his salary will be
= 10000*16/31
= 5161 Rs.
In the same way we can calculate the others salary
From India, Palwal
Dear Vasu.
If you want details regarding PF and ESI there is lot of threads available in the citehr. And also you can google around to find out answers for your question. But here please mention salary structure i.e., Gross salary for ESI and Basic, DA and retention allowance for calculation of PF and what all deductions your company is making under head; deductions.
Where as payroll is concerned , it is a process of documentation to the effect of paying salaries to the employees. It can be done manually ( by only using registers etc) and by using computers - which makes the process easier...Say for example my company uses Microsoft excel for this purpose.Here an employee's data is maintained like Name, DOJ, No of days worked in the month,Basic salary, DA, HRA , Conveyance allowance,alll these things are mentioned to arrive at his gross salary from this deductions are made like PF,ESI,telephone charges,other things are deducted to arrive at net salary..Like this only in single sheet we can make all these provisions.This is in brief...
Please be specific on your doubts so that we can help u in better way
Regards,
Shreekanth.P.R
From India, Mumbai
If you want details regarding PF and ESI there is lot of threads available in the citehr. And also you can google around to find out answers for your question. But here please mention salary structure i.e., Gross salary for ESI and Basic, DA and retention allowance for calculation of PF and what all deductions your company is making under head; deductions.
Where as payroll is concerned , it is a process of documentation to the effect of paying salaries to the employees. It can be done manually ( by only using registers etc) and by using computers - which makes the process easier...Say for example my company uses Microsoft excel for this purpose.Here an employee's data is maintained like Name, DOJ, No of days worked in the month,Basic salary, DA, HRA , Conveyance allowance,alll these things are mentioned to arrive at his gross salary from this deductions are made like PF,ESI,telephone charges,other things are deducted to arrive at net salary..Like this only in single sheet we can make all these provisions.This is in brief...
Please be specific on your doubts so that we can help u in better way
Regards,
Shreekanth.P.R
From India, Mumbai
Salary calculation is always a choatic manner. If an employee's salary is to be calculated when he/she has joined an organization in the middle of a month, it is a usual practice is that either 30 or 31 is the guideline. If it is February also it is on an average of 30 days usually. It is the colective agreement with the unions or if no union, it is the unanimous agreement of all the employees. No labour law or rule has set a system to it. Usual salary calculation is 30 only, which has been the practice in all the organization in India.
From India, Pune
From India, Pune
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.
Add the url of this thread if you want to cite this discussion.
#Listed In: calculation of pf City-India-Palwal basic salary employee salary salary structure salary calculation labour law piece rate salary calculate net salary Country-India
Salary-Note.doc
SALARY SHEET CALCULATION.xls
