Dear all seniors,
I am working in One Manufacturing unit in HR & Admin Dept. am fresher in this field. So to clear my queries I want your helps.
In our organization when we made the worker August salary calculation sheet including Overtime hrs also. I have one query about PF amt.
One of our workers his gross salary is Rs. 8000 per month and his salary break up is as follows.
Basic - 3565
D.A. - 940
HRA - 451
Allowance - 2165
Total - 7121
PF - 541
ESI - 338
CTC - 8000
When we will do the present days calculation, every time we will take the 274 rate (fixed for every month) i.e. if he present 22 days = 22 x 274 = 6028
And About overtime, if his OT 77 Hrs, then it would be calculate 77 x 47.60(Fixed for every month) = 3665
Then Total Amt is 6028 + 3665 = 9693
And for deduction the PF amt from his salary we calculate as follows:
Basic + DA / 26 days.
3565 + 940 = 4505/26 = 173.27
Now 173.27 x 22 Present days = 3812.
On 3812 we deduct the PF 12 %
Now my query is when I asked my boss about why we every time divided by 26 days to Basic + DA. He told me that when we convert the salary in days it is compulsory to take 26 every time.
Please suggest me guys it is necessary that we have to take 26 days every time.
Please reply, It’s very urgent
Thanks & Regards
Vrusha
:) :) :)
I am working in One Manufacturing unit in HR & Admin Dept. am fresher in this field. So to clear my queries I want your helps.
In our organization when we made the worker August salary calculation sheet including Overtime hrs also. I have one query about PF amt.
One of our workers his gross salary is Rs. 8000 per month and his salary break up is as follows.
Basic - 3565
D.A. - 940
HRA - 451
Allowance - 2165
Total - 7121
PF - 541
ESI - 338
CTC - 8000
When we will do the present days calculation, every time we will take the 274 rate (fixed for every month) i.e. if he present 22 days = 22 x 274 = 6028
And About overtime, if his OT 77 Hrs, then it would be calculate 77 x 47.60(Fixed for every month) = 3665
Then Total Amt is 6028 + 3665 = 9693
And for deduction the PF amt from his salary we calculate as follows:
Basic + DA / 26 days.
3565 + 940 = 4505/26 = 173.27
Now 173.27 x 22 Present days = 3812.
On 3812 we deduct the PF 12 %
Now my query is when I asked my boss about why we every time divided by 26 days to Basic + DA. He told me that when we convert the salary in days it is compulsory to take 26 every time.
Please suggest me guys it is necessary that we have to take 26 days every time.
Please reply, It’s very urgent
Thanks & Regards
Vrusha
:) :) :)