What is the standard date to make salary every month whether its 30 days or 31 days? And on what basis the salary gets deducted for absence?
From India, Gurgaon
6From India, Gurgaon
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
The salary statement is prepared based on the wage month. It varies from organisation to organisation, very commonly used is from 25th of previous month to 24th of present month or from 28th to 27th etc depending on the size of workforce. Most of the organisations don't make calander month to be the wage month as there will be then hardly any time left for preparing wage bill and disbursement. The number of working day could be 27/26 in normal months and for February it could be 25 or 24 as is the case. So depending on the total number of working days in which the employee is present out of the total working days in the month, proportionate salary is payable.
From India, Mumbai
From India, Mumbai
Wage month is of 26 or27 day excluding wekly off.If employees work for weekly off days then its the overtime they did.
Salary is calculated as per wage month.
Salary amount/working days in a month = per day salary
Therefore per day salary x work days present = salary earned.
Net salary = salary earned - statutory deductions & other deductions.
Hope this helps.
Else connect at
.
For pay roll management outsourcing.
From India, Vadodara
Salary is calculated as per wage month.
Salary amount/working days in a month = per day salary
Therefore per day salary x work days present = salary earned.
Net salary = salary earned - statutory deductions & other deductions.
Hope this helps.
Else connect at
For pay roll management outsourcing.
From India, Vadodara
Dear colleague,
If your wage period is monthly and your employees are monthly rated, then weekly off days are paid days.
If you pay/ deposit by bank transfer on the last day of the month or on the 1st of next month , it does not matter whether a month consists of 30, 31, 28 or 29 days.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
If your wage period is monthly and your employees are monthly rated, then weekly off days are paid days.
If you pay/ deposit by bank transfer on the last day of the month or on the 1st of next month , it does not matter whether a month consists of 30, 31, 28 or 29 days.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
The standard date to make salary should not be exceeded by every 5th day of the month as there are people who are all dependent on their monthly allowances no matter the days of the month. there should not be a time-bound barrier for the salary deduction it should solely dependent on completing the total working hours, and the amount of work hard and also over time.
Regards,
Pooja Singh,
8588885535,
Education Consultant at NMIMS Distance Learning Programs in Management Studies
From India, Gurgaon
Regards,
Pooja Singh,
8588885535,
Education Consultant at NMIMS Distance Learning Programs in Management Studies
From India, Gurgaon
Dear colleague,
As per the amended Payment of Wages Act, the wages to employees drawing up to Rs 24000/-pm are to be paid on or before the 7th day from the end of the wage period if the employee strength is 1000 and on or before 10 th day if employee strength exceeds 1000.
Usually factory workers who are daily rated , are paid as per above legal provisions.
But for monthly rated staff employed in the commercial establishments, are paid salary on the last day of the month or on 1 at of the next month.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
As per the amended Payment of Wages Act, the wages to employees drawing up to Rs 24000/-pm are to be paid on or before the 7th day from the end of the wage period if the employee strength is 1000 and on or before 10 th day if employee strength exceeds 1000.
Usually factory workers who are daily rated , are paid as per above legal provisions.
But for monthly rated staff employed in the commercial establishments, are paid salary on the last day of the month or on 1 at of the next month.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
Standard Salary.xls
1 Amendment to The Payment of Wages Act to pay Salary by Cheque or NEFT.pdf