Dear members,
What is the Correct method for salary calculation(EARNED GROSS) out of these below two methods?
Suppose Gross salary is 3,300/-
for Jan month having 25 working days, 1 NF & 5 sundays (weekly off's)
CASE 1: PERSON IS PRESENT FOR 23 DAYS
CASE 2: PERSON IS PRESENT FOR 2 DAYS ONLY
Method 1 (TRADITIONAL): FOR CASE 1: (3300/31)*29 = 3087/-
FOR CASE 2: (3300/31)*2 = 213/-
Method 2 (as i understood from Payment of Wages act, Factories Act and as told by some labour lawyers also)
For Case 1: (3300/25) *23 + (one day for NF) = 3168/-
For Case 2: (3300/25) *2 + (one day for NF) = 396/-
Kindly give your valuable inputs.
regards
Manish Gupta
[Login to view]
What is the Correct method for salary calculation(EARNED GROSS) out of these below two methods?
Suppose Gross salary is 3,300/-
for Jan month having 25 working days, 1 NF & 5 sundays (weekly off's)
CASE 1: PERSON IS PRESENT FOR 23 DAYS
CASE 2: PERSON IS PRESENT FOR 2 DAYS ONLY
Method 1 (TRADITIONAL): FOR CASE 1: (3300/31)*29 = 3087/-
FOR CASE 2: (3300/31)*2 = 213/-
Method 2 (as i understood from Payment of Wages act, Factories Act and as told by some labour lawyers also)
For Case 1: (3300/25) *23 + (one day for NF) = 3168/-
For Case 2: (3300/25) *2 + (one day for NF) = 396/-
Kindly give your valuable inputs.
regards
Manish Gupta
[Login to view]