Re: Salary Calculation For The Month Of February

Hello Sir,
I need ur assistance.
during the month of feb 09, i calculated salary for all the employees on the basis of 28 days. i hope this is right.
but when my collegues, question me, i hav no proof to submit other than oral explanations.
Actually, i studied in I.T, dat salaries are to be calculated as per the below formula
Salary * no. of days worked / no. of days in a month
I need some proof to claify them, wat i done is right.
kindly advise me by sending some websites and attachments dat specifying the exact formulas.
awaiting for ur warm & immediate reply.

how can i calculate salary attendance based on attendance report i.e.,no. of leaves shouldnot exceed more than two per month

Dear All,
The issue for calculating the Feb month is divided into two phases:
1. By HR Point of view
2. By Accounting Terms
* By HR Point of view: the February Month is considered as 1 month complete it is not divided as 29 day or 28 days, the payment to the employee is to be paid in full. Any leave availed or deducted will comprise as the same which generally happens in other months.
Thus a company has to pay one months complete salary to its employees in February Month.
* In Accounting terms to settle detailed accounting, the difference in pay is to be represented as 1 day addition of any month. For which the Accounting officers will pay 1 day of march for 29 days in Feb. and if 28 days in Feb the 1 day of march and 1 day April.
In the month of April 1 day would be credited by MAY month. Hence FEB, MAR, APR & MAY will be presented in accounting as 30 Days each.
This type of issues are more subtle in organization with strong finance policies or settlement of tax related sources.