Employee Compensation & Benefits

I have recently joined a company. The owner has calculated a salary on working days only.
eg. in Feb i joined on 11th. My salary is 40,000pm as per the contract.
I got paid only 24,000.
When asked he said that you only get paid for the working days only. so hes calculated that i have worked only 13 days( excluding Sat+Sun).
Is this legally right?

There are a few ways of calculating and some organisations follow 26 days and some follow 30 days and some follow actual days in a month
Actual formula as how they have arrived at Rs 24000 will help in giving an advice
But there do not seem to a major discrepancy

hi, thanks for the update. as per the contract we had signed,
REMUNERATION
Your salary is INR 5.4 lakhs per annum paid on monthly basis
and
A) ADMINISTRATION
1) Payment
a) For all staff the pay month is the calendar month. Salaries are paid by the last working day of the current month.
now the way its being calculated is :
In feb total working days ie Mon - Fri. You dont get paid for saturday & sunday.
So if i join on 11/02/2016. that is 2 working days for that week then 15-19/02 & 22-26/02 & 29/02. total 12 days.
in Feb total 22 working days.
I worked for 12 days
45000/22 * 12 = 24545 - 200(Prof. tax)
doesnt this sound strange? Ive been working for over 20 years and not any company calculates like this....

The Supreme Court has long ago declared the proposal for computing daily rate. You need to divide the monthly salary by 26 to get daily rate. That rate will be applied to number of days worked. The minimum wages act also provides the same formula.
So, all weekly off are to be excluded from the computation of salary because the rates are absorbed into daily rate.
The procedure followed by your company is similar. They are dividing by 22 instead of 26 because you have 2 weekly off (30-8). The only problem is that there are 28 days instead of 30mdays in that month so you post 2 days salary.
Do you really want to make an issue of a small difference ?

Hahahaha, very strange to read above comments. these things are malpractices by the companies happening in large number at small firms to save money who do not absorb and follow any law. the ground reality is that the appointed regulators are aware of such things but there eyes are covered with a good sum goodies.
Not only this, there are many firms who even do not pay salaries on time and they have their different standards of attendance system ignoring the basic concepts of physical presence. These are clear breach of Wages Act and similar related.
@hiren6374: Seems you have stuck at a wrong place. You have only 2 options, request them to correct it and pay you or leave them and find a right place. Unnecessary frustrating yourself will not gain you anything nor does the complaining part. Hope you understand the practical problems.

Harpreet,
Please explain what you mean by different standards of attendance ignoring physical presence

I have recently started looking after HR activities in my organization and we are a small social enterprise. Can any one help me to understand the different grades along with the designation they follow for e.g., E0 is a grade for trainee and E3 for officer. I would appreciate if anyone help me with the list of these grades.