Use factoHR and automate your HR processes
Mobile-first hire to retire HR and Payroll software that automates all HR operations and works as a catalysts for your organisational growth.
shweta-masson#salary calculation #HR operation #payroll
nanu1953Salary calculation from monthly to daily is followed by different organization by different method. Only in MW Act and PG Act it is mentioned to arrive daily rate from monthly rate - the monthly rate to be divided by 26.
There are organizations who are following 31/30/29/28 as a factor to determine the daily wages as the case may be in a particular month.
Some organizations are following only factor 30 to determine the daily rate.
I have came across with one organization MNC where for arriving daily rate - the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi