Dear All,
I am working for a software development company. I need a small clarification. Normally, how is the Loss of Pay calculated? Is it calculated including the weekends i.e. salary divided by 30 days and multiplied by days payable, or salary divided by 22 days(excluding week ends) and multiplied by days payable.As far as I know in Indian companies, the salary is paid per month basis and also for the purpose of calculation we calculate with 30 days pro-rated. I heard in US companies it is vice-versa, the salary is paid for 22 days and LOP calculation is also done for 22 days.
Please let me know how is it done in Indian software companies.
Thanks
Geetanjali
I am working for a software development company. I need a small clarification. Normally, how is the Loss of Pay calculated? Is it calculated including the weekends i.e. salary divided by 30 days and multiplied by days payable, or salary divided by 22 days(excluding week ends) and multiplied by days payable.As far as I know in Indian companies, the salary is paid per month basis and also for the purpose of calculation we calculate with 30 days pro-rated. I heard in US companies it is vice-versa, the salary is paid for 22 days and LOP calculation is also done for 22 days.
Please let me know how is it done in Indian software companies.
Thanks
Geetanjali