What will be correct procedure for loss of pay calculation?

I if take 2 days leave on per month , daily wages calculation based on no of working days or total days in a month. If based on no of working days say 26 then loss of pay will be higher, if based on total days in month, loss of pay will be less. What will be correct procedure for loss of pay calculation? Could you kind enough to help me on loss of pay calculation?

As per my understanding, it should be on number of days in that month. So typically 30/31. This is what we follow in our company.

Most of the companies are considering the calendar days as a total number of working days. So the L O P will be calculated based on the day salary. ( Like 31/ total salary = day salary )