Calculating Loss of Pay: What's the Best Method for Accurate Results?

Sowmya Kavya

Hi,

How can we calculate the loss of pay? Is there any standard formula to calculate LOP in a spreadsheet? Which is the correct method of calculation (based on the number of days in a month (30) or the number of working days (for example, 25 days))?

medibest

How can we calculate the Loss of Pay? Is there a standard formula to calculate LOP in a spreadsheet? Which is the correct method of calculation (based on the number of days in a month (30) or the number of working days (for example, 25 days))?

pon1965

It should be based on the number of days in a month. Since LOP covers the interregnum Sundays/holidays, it is fair to calculate only based on the number of days in a month, which is widely being followed.

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