I am working in an IT Company with a staff of approximately 50. Do companies follow a standard number of working days when calculating salary? Mostly, salaries are calculated based on the formula: (Monthly Gross * (number of days present / 26)). Generally, 26 working days are considered. But then, is it 26 working days for a 31-day month and 25 for a 30-day month? What about February? Also, what about national holidays? All your comments and suggestions will be highly appreciated.
Regards, Manidipa (HR Manager)
From India, Pune
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Regards, Manidipa (HR Manager)
From India, Pune
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BONUS CALCULATION BY WORKING DAYS.xls
Salary calculation.doc