As there is no prescribed law for calculating wages for workers, please advise on the following.
Wage Calculation Method
I want to calculate wages for workers in the following way. Please suggest whether there is anything wrong as per the law:
Suppose the monthly wage of a worker is 10,000 Rs. Consider the month of January.
Total days in a month = 31 days
Weekly offs = 5
Absent = 1
Paydays = 31 - 5 - 1 = 25
Calculation = (10,000 / [31 - 5]) * 25 = 9,616.
We want to apply the same calculation method for all months. Is there any issue with the above approach?
From India, Delhi
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Wage Calculation Method
I want to calculate wages for workers in the following way. Please suggest whether there is anything wrong as per the law:
Suppose the monthly wage of a worker is 10,000 Rs. Consider the month of January.
Total days in a month = 31 days
Weekly offs = 5
Absent = 1
Paydays = 31 - 5 - 1 = 25
Calculation = (10,000 / [31 - 5]) * 25 = 9,616.
We want to apply the same calculation method for all months. Is there any issue with the above approach?
From India, Delhi
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Wage Calculation for Monthly and Daily Wages
As it is monthly wages, the weekly off is included in the wages. Only 1 day absent in the absence of any leave will be treated as loss of pay (LOP).
If it is daily wages, then the calculation is correct. To obtain daily wages from monthly wages, it has to be divided by 26.
S K Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions
From India, New Delhi
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367As it is monthly wages, the weekly off is included in the wages. Only 1 day absent in the absence of any leave will be treated as loss of pay (LOP).
If it is daily wages, then the calculation is correct. To obtain daily wages from monthly wages, it has to be divided by 26.
S K Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions
From India, New Delhi
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My basic query is, while hiring, we offer a monthly wage to the workers irrespective of any month, which means including weekly off days. In my calculations, I am changing the denominator in the formulas for all the months depending upon the weekly off numbers and also the total number of days in a month. Is there anything illegal in this?
From India, Delhi
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From India, Delhi
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Daily,Weekly,Mo nthly Recruitment Track.xls
LEAVE ENCASHMENT NOT INCLUDED IN WAGES FOR P. F. CALCULATION.pdf