Struggling with February Invoices? How to Calculate Daily Wages from a $14,208 CTC

Hi, I joined as an assistant HR. Our CTC for each person is $14,208. How do I prepare an invoice for the month of February with a daily wage rate? The attendance days include 23 working days and 4 weekends off, totaling 27 days.

To prepare an invoice for the month of February with a daily wage rate for an employee with a CTC of $14,208, follow these steps:

Calculating Daily Wage Rate:
- First, determine the total number of working days in February. In this case, there are 23 working days and 4 weekends off, totaling 27 days.
- To calculate the daily wage rate, divide the CTC by the total number of working days.
- Daily Wage Rate = CTC / Total Working Days
- Daily Wage Rate = $14,208 / 23

Preparing the Invoice:
- Once you have calculated the daily wage rate, multiply this rate by the number of days the employee worked in February to determine the total amount to be invoiced.
- Total Amount = Daily Wage Rate * Number of Working Days
- Total Amount = Daily Wage Rate * 23

Example Calculation:
- Daily Wage Rate = $14,208 / 23 = $617.74 (approx.)
- Total Amount = $617.74 * 23 = $14,208

By following these steps, you can accurately prepare an invoice for the month of February based on the daily wage rate for an employee with a CTC of $14,208.