Please tell me how we can calculate the daily wage. If it is July, then we should calculate 5000/31 multiplied by the total working days. If it is the month of June, we should calculate 5000/30 multiplied by the working days. Am I correct or not? Please help me.
Additionally, could you please provide me with the formula for calculating salary and overtime?
Sheena
From India, Delhi
Acknowledge(0)
Amend(0)
Additionally, could you please provide me with the formula for calculating salary and overtime?
Sheena
From India, Delhi
Acknowledge(0)Amend(0)
Dear Sheena,
If the employee is daily rated, it should be divided by 26, and if monthly rated, by the number of days in a month. However, division by 30 is generally followed for monthly rated employees. Please refer to the Factories Act for clarification.
For daily-rated employees, the employee is not paid for the weekly off; instead, it is computed in the daily wages.
Overtime is paid if somebody works for more than 9 hours a day and more than 48 hours a week (as per the Factories Act provisions).
If an employee does not complete 48 hours a week but works for 10 hours on one day, then 1 hour will be single rated, and 1 hour will be double rated. If worked for more than 48 hours in the week, every hour of extra work will be double rated. More than 30 minutes of extra work will be considered as 1 hour, while less than 30 minutes will not be considered.
Different states have different rules regarding the maximum overtime working hours.
With Warm Regards,
K.P. Misra
Acknowledge(1)Amend(0)
3If the employee is daily rated, it should be divided by 26, and if monthly rated, by the number of days in a month. However, division by 30 is generally followed for monthly rated employees. Please refer to the Factories Act for clarification.
For daily-rated employees, the employee is not paid for the weekly off; instead, it is computed in the daily wages.
Overtime is paid if somebody works for more than 9 hours a day and more than 48 hours a week (as per the Factories Act provisions).
If an employee does not complete 48 hours a week but works for 10 hours on one day, then 1 hour will be single rated, and 1 hour will be double rated. If worked for more than 48 hours in the week, every hour of extra work will be double rated. More than 30 minutes of extra work will be considered as 1 hour, while less than 30 minutes will not be considered.
Different states have different rules regarding the maximum overtime working hours.
With Warm Regards,
K.P. Misra
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
SAMPLE Employee Attrition Calculation sheet for FY 09-10 .xls