Hi, my vendor calculate salary based on 26 days based. So please advise this is correct or not
From India, New Delhi
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1From India, New Delhi
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Monthly salary / wages calculate on 30 days but daily rated wages by 26 days....
From India, undefined
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Hi Manoj,
For a monthly salaried employee, the calculation needs to be done with the maximum number of days as the denominator for division. For a daily worker, it needs to be based on 26 days, so please check which module your vendor is using.
Also, note that the wages for daily and monthly employees prescribed by the minimum wage authority are different. Daily wages are slightly higher due to no extension of holiday or leave.
Thank you.
From India, New Delhi
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For a monthly salaried employee, the calculation needs to be done with the maximum number of days as the denominator for division. For a daily worker, it needs to be based on 26 days, so please check which module your vendor is using.
Also, note that the wages for daily and monthly employees prescribed by the minimum wage authority are different. Daily wages are slightly higher due to no extension of holiday or leave.
Thank you.
From India, New Delhi
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As per my understanding , daily and monthly rated wages not differ because in daily rated wages weekly off amount also considered during fixation of wage by authority
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As per the law, the employee/worker will be eligible for a day off with pay after working for 48 hours, i.e., after working for 6 days, they are entitled to one day off per week with pay. Therefore, the total wages/salaries should be divided by 26 days. Your vendor is correct in the calculation.
Thanks and regards,
Kameswararao S
From India, Hyderabad
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Thanks and regards,
Kameswararao S
From India, Hyderabad
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SALARY SHEET CALCULATION.xls
Salary calculation.doc
LEAVE ENCASHMENT NOT INCLUDED IN WAGES FOR P. F. CALCULATION.pdf