No Tags Found!


sangeeta.ferrao
Hello,
I work for a german MNC and I also handle payroll here.
I wanted to know what is the method of calculation of monthly salary. Should the no of days worked effect all the components of the salary or only Basic, HRA & Conv.
The other components of salary in company are Medical allowances, LTA, Professional Devl. A, Special allowances, Education allowances.
Thanks
Sangeeta

From Singapore, Singapore
bobby7256
Sangeetha, LOP will effect other components as well PFA file for your ref
From India, Bangalore
Attached Files (Download Requires Membership)
File Type: xls VJA Apr.xls (19.5 KB, 442 views)

rk9898
3

Hi,
I'll illustrate it with an example.
E.g: if gross salary is 10500 which can be bifurcated as
Basic 50% - 5000
DA 20% - 2000
HRA 30% - 3000
Attendance Bonus - 500
Now, as per factories act, salary has to be calculated for 26 days. Therefore,
10500/26 = 403.84 is the per day salary. If there is loss of pay during a month, the gross amount reduces thereby reducing the basic, da, HRA, and the other components also but at the same formula i.e basic-50%,da -205 Hra-30% etc.
Hope this helped.
Thanks,
RK

From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.