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 have been following the 30-day formula in all months.
You can even think in terms of arriving at a day's salary by dividing by 365 days or 366 days. But I still advise using 30 days.
Siva
From India, Chennai
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379For 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 have been following the 30-day formula in all months.
You can even think in terms of arriving at a day's salary by dividing by 365 days or 366 days. But I still advise using 30 days.
Siva
From India, Chennai
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I am woking in IT Company. Salary calculate on th basis of 30 days. I am confuse for how to calculate salary for the month of February.
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Dear friends,
Let me share my view. If one's salary is $25,000, we are going to pay $25,000 for all months irrespective of the working days in any month. If you want to calculate loss of pay, then you have to divide $25,000 by 26 days, and that amount should be deducted from the salary.
Regards,
PT Rameshan
From India, Tiruppur
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Let me share my view. If one's salary is $25,000, we are going to pay $25,000 for all months irrespective of the working days in any month. If you want to calculate loss of pay, then you have to divide $25,000 by 26 days, and that amount should be deducted from the salary.
Regards,
PT Rameshan
From India, Tiruppur
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Hi,
It may be 29, 30, or 31 days in a month when we fix the salary for employees. For example, Rs. 50,000.
If you specifically inform the employee that the salary of Rs. 50,000 is for 30 days, it means you should pay 1 day extra for the month with 31 days.
Therefore, you should pay only 29 days' salary for February, which would be Rs. 50,000 / 30 * 29.
This is according to my understanding, but we pay employees one month's salary for this month, i.e., Rs. 50,000.
Thanks,
Radhigasaravanan
From India, Madras
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It may be 29, 30, or 31 days in a month when we fix the salary for employees. For example, Rs. 50,000.
If you specifically inform the employee that the salary of Rs. 50,000 is for 30 days, it means you should pay 1 day extra for the month with 31 days.
Therefore, you should pay only 29 days' salary for February, which would be Rs. 50,000 / 30 * 29.
This is according to my understanding, but we pay employees one month's salary for this month, i.e., Rs. 50,000.
Thanks,
Radhigasaravanan
From India, Madras
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Absolutely wrong ,,,, Salary cant be issued in 29 days calculation... This is fixed salary for every month whether it is 29 days or 30 days or 31 days... Full salary should be provided..
From India, New Delhi
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From India, New Delhi
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Dear,
The employee who has been present for all 29 days will receive 30 days' pay or the full month's salary. On the other hand, if anybody joins on the 16th day, you should first calculate their salary per day based on a 30-day month.
Salary: 50000/=
Joining date: 16th
Formula: 50000/30 = 1667 per day salary
Now, 14 * 1667 = 23338. If you have any other questions or need further clarification, feel free to ask me.
Regards,
Shahzad
From Pakistan, Karachi
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The employee who has been present for all 29 days will receive 30 days' pay or the full month's salary. On the other hand, if anybody joins on the 16th day, you should first calculate their salary per day based on a 30-day month.
Salary: 50000/=
Joining date: 16th
Formula: 50000/30 = 1667 per day salary
Now, 14 * 1667 = 23338. If you have any other questions or need further clarification, feel free to ask me.
Regards,
Shahzad
From Pakistan, Karachi
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I agree with Kavita. Salary can't be calculated on the basis of the number of days in a month. It's a fixed amount, so when we do not pay extra for the 31st day of the month, obviously we can't deduct the salary for the month of February with 28 or 29 days.
From India, New Delhi
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From India, New Delhi
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Hi all,
If the employee has worked for the entire month, then it doesn't matter how many days the month has. The employee will get the full month's salary. In the case of a newly joined employee for any particular month, we have to calculate salary based on the number of days worked. Such cases are best solved by finding out the per-day salary based on 365 days.
For example, if the gross salary is 10000/- per month, then the per-day salary will be: 10000 x 12 / 365 = Rs 328.75. Therefore, if someone is present for 25 days in February, his salary will be Rs 328.75 x 25 = Rs 8218.75. This process solves a lot of complications, and many of us are actually using this system.
Thanks,
Shaswati Datta
From India, Calcutta
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If the employee has worked for the entire month, then it doesn't matter how many days the month has. The employee will get the full month's salary. In the case of a newly joined employee for any particular month, we have to calculate salary based on the number of days worked. Such cases are best solved by finding out the per-day salary based on 365 days.
For example, if the gross salary is 10000/- per month, then the per-day salary will be: 10000 x 12 / 365 = Rs 328.75. Therefore, if someone is present for 25 days in February, his salary will be Rs 328.75 x 25 = Rs 8218.75. This process solves a lot of complications, and many of us are actually using this system.
Thanks,
Shaswati Datta
From India, Calcutta
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Hi,
For monthly-rated employees, generally, we can follow the 30-day principle. It works as follows:
Let us assume the monthly salary is Rs 3000.
1. A person joining on the 1st of any month gets a full salary of Rs 3000.
2. If a person joins, say in January on the 10th, considering a month as always 30 days, they will lose 10 days' salary. Thus, deducting 10*100 = Rs 1000 from the full month's salary of Rs 3000, they receive Rs 2000.
3. Similarly, if a person joins on the 10th of February, they lose 10 days' salary, resulting in Rs 2000.
4. The same principle applies to a person joining on the 10th of March, also receiving Rs 2000.
This is how the monthly salary needs to be calculated. We can also consider 26 days, but for monthly-rated employees, we recommend the above method. We do not calculate for 28 days, 29 days, 31 days, or other variations. It is essential to determine a common per-day salary, and by using 30 as the denominator, it ensures uniformity.
Siva
From India, Chennai
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For monthly-rated employees, generally, we can follow the 30-day principle. It works as follows:
Let us assume the monthly salary is Rs 3000.
1. A person joining on the 1st of any month gets a full salary of Rs 3000.
2. If a person joins, say in January on the 10th, considering a month as always 30 days, they will lose 10 days' salary. Thus, deducting 10*100 = Rs 1000 from the full month's salary of Rs 3000, they receive Rs 2000.
3. Similarly, if a person joins on the 10th of February, they lose 10 days' salary, resulting in Rs 2000.
4. The same principle applies to a person joining on the 10th of March, also receiving Rs 2000.
This is how the monthly salary needs to be calculated. We can also consider 26 days, but for monthly-rated employees, we recommend the above method. We do not calculate for 28 days, 29 days, 31 days, or other variations. It is essential to determine a common per-day salary, and by using 30 as the denominator, it ensures uniformity.
Siva
From India, Chennai
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Hi,
Let me clarify general practices followed in the industry.
1. For example, in January having 31 days, February 29 or 28 days, and April 30 days, when calculating the salary for loss of pay and for those who joined in the middle of the month, the number of days per month will be as follows: 31 days for January, 29 or 28 days for February, and 30 days for April. For example, the calculation will be: 5000 x no. of days present / 31 for January, 5000 x no. of days present / 29 for February, 5000 x no. of days present / 30 for April. (The number of days present includes Sundays.)
2. In the case of being fully present, there is no question of paying for days. The salary will be paid in full regardless of the number of days in a month, e.g., January - 31 days, February - 29 or 28 days, March - 31 days, April - 30 days.
Regards,
N. Krishna Raj Urs
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Let me clarify general practices followed in the industry.
1. For example, in January having 31 days, February 29 or 28 days, and April 30 days, when calculating the salary for loss of pay and for those who joined in the middle of the month, the number of days per month will be as follows: 31 days for January, 29 or 28 days for February, and 30 days for April. For example, the calculation will be: 5000 x no. of days present / 31 for January, 5000 x no. of days present / 29 for February, 5000 x no. of days present / 30 for April. (The number of days present includes Sundays.)
2. In the case of being fully present, there is no question of paying for days. The salary will be paid in full regardless of the number of days in a month, e.g., January - 31 days, February - 29 or 28 days, March - 31 days, April - 30 days.
Regards,
N. Krishna Raj Urs
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According to my experience, having an accurate salary calculation depends on the number of working days in a month. I will try to explain by illustrating an example:
For the month of January 08:
No. of Physical Factory Working Days: 25
No. of Paid Holidays: 02 (for my company Jan 15th & 26th - factory holidays)
No. of Weekly offs: 04
Total No. of days in the month: 31
Therefore, the total no. of days to be considered for the calculation of salary is 27 days during the month. If the salary is Rs. 12000/- per month, the individual will receive the same. In case there are any leaves during the month that result in Loss of Pay:
Salary = (Salary / Total factory working days) * No. of days present.
The amount received per day may vary depending on the number of factory working days but is proportional to the fixed salary that an individual is eligible for.
The above formula holds good under different conditions such as:
1. No. of weekly offs during the month may vary.
2. If there are any compensatory offs during the month declared by the factory.
For other statutory calculations, 26 days should be considered.
I am sharing my knowledge with you all. If there are any modifications required, please let me know.
From India, Visakhapatnam
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For the month of January 08:
No. of Physical Factory Working Days: 25
No. of Paid Holidays: 02 (for my company Jan 15th & 26th - factory holidays)
No. of Weekly offs: 04
Total No. of days in the month: 31
Therefore, the total no. of days to be considered for the calculation of salary is 27 days during the month. If the salary is Rs. 12000/- per month, the individual will receive the same. In case there are any leaves during the month that result in Loss of Pay:
Salary = (Salary / Total factory working days) * No. of days present.
The amount received per day may vary depending on the number of factory working days but is proportional to the fixed salary that an individual is eligible for.
The above formula holds good under different conditions such as:
1. No. of weekly offs during the month may vary.
2. If there are any compensatory offs during the month declared by the factory.
For other statutory calculations, 26 days should be considered.
I am sharing my knowledge with you all. If there are any modifications required, please let me know.
From India, Visakhapatnam
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I have made calculations based on the number of days in a month, assuming the salary is Rs 3000 per month.
3000.00 3000.00 3000.00 3000.00
31.00 30.00 29.00 28.00
96.77 100.00 103.45 107.14
10 21.00 20.00 19.00 18.00 Balance days
Salary 2032.26 2000.00 1965.52 1928.57
Let me remind that he is a monthly rated employee, and Sundays are taken into consideration. In all these months, he is not present only for ten days. But we deduct different salaries for the same 10 days. If a person retires and if you give him encashment, what formula will we follow? The month he retires? And for loss of pay in February, one is penalized more than in other months. The best practice I have ever come across is to make it uniform 30 days, irrespective of the month.
Siva
From India, Chennai
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3000.00 3000.00 3000.00 3000.00
31.00 30.00 29.00 28.00
96.77 100.00 103.45 107.14
10 21.00 20.00 19.00 18.00 Balance days
Salary 2032.26 2000.00 1965.52 1928.57
Let me remind that he is a monthly rated employee, and Sundays are taken into consideration. In all these months, he is not present only for ten days. But we deduct different salaries for the same 10 days. If a person retires and if you give him encashment, what formula will we follow? The month he retires? And for loss of pay in February, one is penalized more than in other months. The best practice I have ever come across is to make it uniform 30 days, irrespective of the month.
Siva
From India, Chennai
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In general, the salary should be calculated based on 30 days or 360 days (1 year). However, it depends on the rest day policy. Normally, the weekend is treated as a paid rest day. In the case of a February leap year, the calculation will still be based on 30 days, but the loss of pay shall be calculated based on the number of days absent. ($$x/30) * Number of absences. I hope this clarifies your doubt.
From Bahrain
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From Bahrain
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No problem Ashaji. This is for the simplicity of later verification. For a going concern, they fix a standard calculation of salary by dividing by 30 days irrespective of 28, 29, 30, or 31 days.
I have experienced in my 25 years of service in the same company that when calculating anything for a person working for many years in the same company, we need not worry about whether in that year February had 28 days or 29 days, or how the calculations were made in that year, such as in 1971, etc.
From India, Madras
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I have experienced in my 25 years of service in the same company that when calculating anything for a person working for many years in the same company, we need not worry about whether in that year February had 28 days or 29 days, or how the calculations were made in that year, such as in 1971, etc.
From India, Madras
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Hi all,
A simple solution! Salary is always computed as salary/number of days in the month * number of days worked. If salary is 10000 pm / 29 * 29 in case of 28 days / 28 * 28 {30 * 30}{31 * 31}, the result will be the same. Try one with 2 days absent.
10000 / 31 * 29 = 9355
10000 / 28 * 26 = 9286
10000 / 30 * 28 = 9333
You can see a small difference, but this would be the ideal salary when working. What do others say?
Regards,
Joseph
From India, Mumbai
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A simple solution! Salary is always computed as salary/number of days in the month * number of days worked. If salary is 10000 pm / 29 * 29 in case of 28 days / 28 * 28 {30 * 30}{31 * 31}, the result will be the same. Try one with 2 days absent.
10000 / 31 * 29 = 9355
10000 / 28 * 26 = 9286
10000 / 30 * 28 = 9333
You can see a small difference, but this would be the ideal salary when working. What do others say?
Regards,
Joseph
From India, Mumbai
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Salary is for the whole month, and the calculation is based on the number of working days, not the number of days in a month. If in a month the working day is only 25 days (excluding Sundays), then the loss of pay will be calculated based on this. For example, if the salary for a person is 10,000 and he is absent for 5 days, and the working day in a month is 25, then the calculation is as follows: 10,000/25*20. If he joined in between a month, say the 10th of March 2008, then also the calculation is similar: 10,000/25*19.
From India, Madras
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From India, Madras
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Hi members,
I have been through the replies of members and found that most of them are considering 30 days for the calculation of salary. However, here I have a doubt for all those who are calculating using 30 days as the base for salary.
1. If the number of working days in a month is less, such as compensatory offs as commonly seen in the manufacturing sector, how do you calculate the salary in such situations?
2. As per our laws, we consider 26 days as the standard for calculating earned leave (EL), gratuity, etc. This implies that weekly offs are not considered as paid rest days.
Thank you.
From India, Visakhapatnam
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I have been through the replies of members and found that most of them are considering 30 days for the calculation of salary. However, here I have a doubt for all those who are calculating using 30 days as the base for salary.
1. If the number of working days in a month is less, such as compensatory offs as commonly seen in the manufacturing sector, how do you calculate the salary in such situations?
2. As per our laws, we consider 26 days as the standard for calculating earned leave (EL), gratuity, etc. This implies that weekly offs are not considered as paid rest days.
Thank you.
From India, Visakhapatnam
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Let me share my views on this:
Some follow the calendar month from the 1st to the 30th/31st or 28/29th. Others calculate the Salary month from the 26th of the previous month to the 25th of the current month (depending on the companies).
Whether it is the Calendar month, Salary month, 31-day month, 30-day month, or 28/29-day month, the salary is fixed. For example, Rs. 30,000/-, and the number of days worked could be 30 days, 31 days, 28 days, or 29 days.
Per day salary for a 30-day month: 30,000/30 = 1000.00
Per day salary for a 31-day month: 30,000/31 = 967.74
Per day salary for a 29-day month: 30,000/29 = 1034.48
Thus, for Loss of Pay (LOP) days or salaries for in-between joining, calculations are done for the respective months. I follow the same practice.
Please share your comments on this.
Have a wonderful day.
Chennai.Ibrahim
From India, Hyderabad
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Some follow the calendar month from the 1st to the 30th/31st or 28/29th. Others calculate the Salary month from the 26th of the previous month to the 25th of the current month (depending on the companies).
Whether it is the Calendar month, Salary month, 31-day month, 30-day month, or 28/29-day month, the salary is fixed. For example, Rs. 30,000/-, and the number of days worked could be 30 days, 31 days, 28 days, or 29 days.
Per day salary for a 30-day month: 30,000/30 = 1000.00
Per day salary for a 31-day month: 30,000/31 = 967.74
Per day salary for a 29-day month: 30,000/29 = 1034.48
Thus, for Loss of Pay (LOP) days or salaries for in-between joining, calculations are done for the respective months. I follow the same practice.
Please share your comments on this.
Have a wonderful day.
Chennai.Ibrahim
From India, Hyderabad
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Paid leaves of all types are to be considered as worked days, including weekends off, EL, CL, or any other type of paid leave. For calculating Gratuity, worked days are to be taken into account for computation, which includes paid leaves as well. The formula for calculating Gratuity is: Gratuity = Monthly Salary earned x 15 days x No. of yrs. of service divided by 26.
-Chennai.Ibrahim
From India, Hyderabad
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-Chennai.Ibrahim
From India, Hyderabad
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Hi,
It doesn't matter how many days are there in a month. When you are not paying for 1 extra day in the months with 31 days, then you don't have the right to deduct 1 day's salary and calculate it based on 29 days.
Let's fix it with the 30 days, 12 months formula as we have discussed.
Regards,
Himani
From India, Jaipur
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It doesn't matter how many days are there in a month. When you are not paying for 1 extra day in the months with 31 days, then you don't have the right to deduct 1 day's salary and calculate it based on 29 days.
Let's fix it with the 30 days, 12 months formula as we have discussed.
Regards,
Himani
From India, Jaipur
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As per my knowledge, the salary will be calculated at 100% for every month regardless of 28, 29, 30, or 31 days. The only exception is if there are any deductions for a particular month, they will be calculated as follows:
- For February: Salary per month - (Salary/29) * number of days for deduction
- For 30-day months: Salary per month - (Salary/30) * number of days for deduction
- For 31-day months: Salary per month - (Salary/31) * number of days for deduction
If I am wrong, please correct me.
Regards,
Farooq
From India, Bangalore
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- For February: Salary per month - (Salary/29) * number of days for deduction
- For 30-day months: Salary per month - (Salary/30) * number of days for deduction
- For 31-day months: Salary per month - (Salary/31) * number of days for deduction
If I am wrong, please correct me.
Regards,
Farooq
From India, Bangalore
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DEAR FAROOQ U R RIGHT AS PER THE SALARY LOGIC SEE MY COMMENT ON 11-3-2008 AT 6 PM ... I FIND MANY OF OUR FRIEND CONFUSED !! REGARDS JOSEPH
From India, Mumbai
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From India, Mumbai
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DEAR IBRAHIM U R RIGHT AS PER THE SALARY LOGIC SEE MY COMMENT ON 11-3-2008 AT 6 PM ... I FIND MANY OF OUR FRIEND CONFUSED !! REGARDS JOSEPH
From India, Mumbai
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From India, Mumbai
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Hi, Dear Mr. Shiinz,
Thanks in advance. I am Kayalvizhi, working as an HR Executive. Could you provide full details of salary calculation with an example? It will be clearer for me.
My email is Saffriya_jani@yahoo.co.in.
Thank you.
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Thanks in advance. I am Kayalvizhi, working as an HR Executive. Could you provide full details of salary calculation with an example? It will be clearer for me.
My email is Saffriya_jani@yahoo.co.in.
Thank you.
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I read a lot of people saying the 30-day formula is right. But I am confused. If I take leave for the whole month of Feb, will the company pay me for 2 days' salary?
Deduction Of Salary
Feb
{Salary/30*28(Leaves)} - Salary = 2 Days' salary still we are getting:icon6:
{10000/30*28(Leaves)} - 10000 = 667 Rs. Still you get (Without working 2 days' salary Hurreeeee):):):):)
Or
Jan
If I take leave for the whole month of Jan, do I have to pay 1 day's salary to the company?
{Salary/30*31(Leaves)} - Salary = 1 Day's Salary in Minus. I have to pay the company :confused:
{10000/30*31(Leaves)} - 10000 = 333.3 Rs. You have to pay the company :confused::confused::confused::confused::confused: :confused::confused:
From India, Delhi
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Deduction Of Salary
Feb
{Salary/30*28(Leaves)} - Salary = 2 Days' salary still we are getting:icon6:
{10000/30*28(Leaves)} - 10000 = 667 Rs. Still you get (Without working 2 days' salary Hurreeeee):):):):)
Or
Jan
If I take leave for the whole month of Jan, do I have to pay 1 day's salary to the company?
{Salary/30*31(Leaves)} - Salary = 1 Day's Salary in Minus. I have to pay the company :confused:
{10000/30*31(Leaves)} - 10000 = 333.3 Rs. You have to pay the company :confused::confused::confused::confused::confused: :confused::confused:
From India, Delhi
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Hi all,
Salary for the month of February shall be calculated on a 28-day basis. If a man worked for 24 days and his salary per month is 5000/-, then the calculation shall be 5000/28*24. We shall calculate it based on the days of the month. In any month, if there are 30 days, then divide it by 30, and if there are 31 days, then divide it by 31 days.
Ashok Kumar Swami
From India, Delhi
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Salary for the month of February shall be calculated on a 28-day basis. If a man worked for 24 days and his salary per month is 5000/-, then the calculation shall be 5000/28*24. We shall calculate it based on the days of the month. In any month, if there are 30 days, then divide it by 30, and if there are 31 days, then divide it by 31 days.
Ashok Kumar Swami
From India, Delhi
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Hi all,
Salary for the month of February shall be calculated on a 28-day basis. For example, if an individual worked for 24 days and their monthly salary is 5000/-, the calculation shall be 5000/28*24. We will calculate it based on the number of days in the month. If a month has 30 days, we will divide it by 30; if it has 31 days, we will divide it by 31 days.
Ashok Kumar Swami
Gurgaon
From India, Delhi
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Salary for the month of February shall be calculated on a 28-day basis. For example, if an individual worked for 24 days and their monthly salary is 5000/-, the calculation shall be 5000/28*24. We will calculate it based on the number of days in the month. If a month has 30 days, we will divide it by 30; if it has 31 days, we will divide it by 31 days.
Ashok Kumar Swami
Gurgaon
From India, Delhi
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Hi all,
Salary for the month of February shall be calculated on a 28-day basis. For instance, if a person worked for 24 days and their monthly salary is 5000/-, then the calculation would be 5000 divided by 28, multiplied by 24. We will calculate it based on the number of days in the month. If a month has 30 days, divide by 30; if it has 31 days, divide by 31.
Ashok Kumar Swami
From India, Delhi
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Salary for the month of February shall be calculated on a 28-day basis. For instance, if a person worked for 24 days and their monthly salary is 5000/-, then the calculation would be 5000 divided by 28, multiplied by 24. We will calculate it based on the number of days in the month. If a month has 30 days, divide by 30; if it has 31 days, divide by 31.
Ashok Kumar Swami
From India, Delhi
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Dear Shahzad,
It is incorrect to calculate the salary. Salaries should be calculated based on the number of days in the related month, specifically 28, 29, 30, or 31. For fixed salaries, only those days should be considered. For other employees, their salary should be calculated based on 26 days.
Thank you,
Paresh M. Vyas
Advocate & Labour Laws Consultant (M)
Email: pareshvyas04@yahoo.co.in
From India, Mumbai
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It is incorrect to calculate the salary. Salaries should be calculated based on the number of days in the related month, specifically 28, 29, 30, or 31. For fixed salaries, only those days should be considered. For other employees, their salary should be calculated based on 26 days.
Thank you,
Paresh M. Vyas
Advocate & Labour Laws Consultant (M)
Email: pareshvyas04@yahoo.co.in
From India, Mumbai
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Hello Sir, I need your assistance.
During the month of February 2009, I calculated the salary for all the employees based on 28 days. I hope this is correct. But when my colleagues question me, I have no proof to submit other than oral explanations.
Actually, I studied in IT that salaries are to be calculated according to the formula:
Salary * number of days worked / number of days in a month
I need some proof to clarify to them that what I did is correct. Kindly advise me by sending some websites and attachments that specify the exact formulas.
I am awaiting your warm and immediate reply.
From India, Madras
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During the month of February 2009, I calculated the salary for all the employees based on 28 days. I hope this is correct. But when my colleagues question me, I have no proof to submit other than oral explanations.
Actually, I studied in IT that salaries are to be calculated according to the formula:
Salary * number of days worked / number of days in a month
I need some proof to clarify to them that what I did is correct. Kindly advise me by sending some websites and attachments that specify the exact formulas.
I am awaiting your warm and immediate reply.
From India, Madras
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how can i calculate salary attendance based on attendance report i.e.,no. of leaves shouldnot exceed more than two per month
From India, Chennai
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From India, Chennai
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Calculating February's Salary: HR and Accounting Perspectives
The issue of calculating February's salary is divided into two phases:
1. HR Point of View
From an HR perspective, February is considered as one complete month; it is not divided into 29 or 28 days. The payment to the employee is to be made in full. Any leave availed or deducted will be included, similar to what generally happens in other months. Thus, a company has to pay one month's complete salary to its employees in February.
2. Accounting Terms
In accounting terms, to settle detailed accounting, the difference in pay is represented as a one-day addition for any month. Accounting officers will pay one day of March for 29 days in February, and if there are 28 days in February, one day of March and one day of April. In April, one day would be credited by May, and hence, February, March, April, and May will be presented in accounting as 30 days each.
These types of issues are more subtle in organizations with strong financial policies or for the settlement of tax-related sources.
From India, Nagpur
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The issue of calculating February's salary is divided into two phases:
1. HR Point of View
From an HR perspective, February is considered as one complete month; it is not divided into 29 or 28 days. The payment to the employee is to be made in full. Any leave availed or deducted will be included, similar to what generally happens in other months. Thus, a company has to pay one month's complete salary to its employees in February.
2. Accounting Terms
In accounting terms, to settle detailed accounting, the difference in pay is represented as a one-day addition for any month. Accounting officers will pay one day of March for 29 days in February, and if there are 28 days in February, one day of March and one day of April. In April, one day would be credited by May, and hence, February, March, April, and May will be presented in accounting as 30 days each.
These types of issues are more subtle in organizations with strong financial policies or for the settlement of tax-related sources.
From India, Nagpur
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SALARY SHEET CALCULATION.xls
Salary calculation.doc
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(Fact Checked)-The calculation of salary attendance based on the number of leaves should not exceed two per month can be done but ensure it complies with labor laws and company policies. (1 Acknowledge point)