Hello
For monthly rated employees, you can have a policy of calculating 30 days as a month for all months. It has an impact on calculating loss of pay leave, leave encashment and OT Or if a person joins in between , for calculating salary for the period.
I had been following 30 days formula on all months.
You can even think in terms of arriving at a days salary by dividing by 365 days or 366 days. But i still will advise using 30 days.
Siva
For monthly rated employees, you can have a policy of calculating 30 days as a month for all months. It has an impact on calculating loss of pay leave, leave encashment and OT Or if a person joins in between , for calculating salary for the period.
I had been following 30 days formula on all months.
You can even think in terms of arriving at a days salary by dividing by 365 days or 366 days. But i still will advise using 30 days.
Siva