Dear all seniors,
I am working in One Manufacturing unit in HR & Admin Dept. am fresher in this field. So to clear my queries I want your helps.
In our organization when we made the worker August salary calculation sheet including Overtime hrs also. I have one query about PF amt.
One of our workers his gross salary is Rs. 8000 per month and his salary break up is as follows.
Basic - 3565
D.A. - 940
HRA - 451
Allowance - 2165
Total - 7121
PF - 541
ESI - 338
CTC - 8000
When we will do the present days calculation, every time we will take the 274 rate (fixed for every month) i.e. if he present 22 days = 22 x 274 = 6028
And About overtime, if his OT 77 Hrs, then it would be calculate 77 x 47.60(Fixed for every month) = 3665
Then Total Amt is 6028 + 3665 = 9693
And for deduction the PF amt from his salary we calculate as follows:
Basic + DA / 26 days.
3565 + 940 = 4505/26 = 173.27
Now 173.27 x 22 Present days = 3812.
On 3812 we deduct the PF 12 %
Now my query is when I asked my boss about why we every time divided by 26 days to Basic + DA. He told me that when we convert the salary in days it is compulsory to take 26 every time.
Please suggest me guys it is necessary that we have to take 26 days every time.
Please reply, It's very urgent
Thanks & Regards
Vrusha
:) :) :)
From India, Chakan
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5I am working in One Manufacturing unit in HR & Admin Dept. am fresher in this field. So to clear my queries I want your helps.
In our organization when we made the worker August salary calculation sheet including Overtime hrs also. I have one query about PF amt.
One of our workers his gross salary is Rs. 8000 per month and his salary break up is as follows.
Basic - 3565
D.A. - 940
HRA - 451
Allowance - 2165
Total - 7121
PF - 541
ESI - 338
CTC - 8000
When we will do the present days calculation, every time we will take the 274 rate (fixed for every month) i.e. if he present 22 days = 22 x 274 = 6028
And About overtime, if his OT 77 Hrs, then it would be calculate 77 x 47.60(Fixed for every month) = 3665
Then Total Amt is 6028 + 3665 = 9693
And for deduction the PF amt from his salary we calculate as follows:
Basic + DA / 26 days.
3565 + 940 = 4505/26 = 173.27
Now 173.27 x 22 Present days = 3812.
On 3812 we deduct the PF 12 %
Now my query is when I asked my boss about why we every time divided by 26 days to Basic + DA. He told me that when we convert the salary in days it is compulsory to take 26 every time.
Please suggest me guys it is necessary that we have to take 26 days every time.
Please reply, It's very urgent
Thanks & Regards
Vrusha
:) :) :)
From India, Chakan
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Dear,
I think you are paying more than the liability. Your monthly fixed point is 274, which should be 273.88. In the present case, you are paying Rs. 3.00 (approximately) in excess per month. The OT is payable only on Basic + DA, and you are paying on HRA as well, which is not necessary.
When the Weekly Off is not payable, we have to divide the monthly gross salary by 26, considering an average of 30 days in the month. (30 days - 4 weekly offs {average} = 26 days.)
Hope you will get the query clear. If not, you may contact me.
Thanks,
Amit Kumar Tawar
09925150259
From India, Mundra
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I think you are paying more than the liability. Your monthly fixed point is 274, which should be 273.88. In the present case, you are paying Rs. 3.00 (approximately) in excess per month. The OT is payable only on Basic + DA, and you are paying on HRA as well, which is not necessary.
When the Weekly Off is not payable, we have to divide the monthly gross salary by 26, considering an average of 30 days in the month. (30 days - 4 weekly offs {average} = 26 days.)
Hope you will get the query clear. If not, you may contact me.
Thanks,
Amit Kumar Tawar
09925150259
From India, Mundra
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Dear Amit,
The fixed point must be rounded to the next rupee; that's why it's Rs. 274 instead of Rs. 273.88. Nobody pays for Sundays; thus, we consider (in India) a working of 26 days. In various Acts, the wages are calculated at the same rate.
Suppose in this month of September 2007, if an employee has availed all his weekly offs and also took leaves on the 3rd and 10th of September 2007. The working days you'll be taking is 24 (26-2).
I have made a synopsis of your example; please see the attachment. You don't have a conveyance allowance as a salary break-up.
Further, if anything comes to your mind, please feel free to ask.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
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The fixed point must be rounded to the next rupee; that's why it's Rs. 274 instead of Rs. 273.88. Nobody pays for Sundays; thus, we consider (in India) a working of 26 days. In various Acts, the wages are calculated at the same rate.
Suppose in this month of September 2007, if an employee has availed all his weekly offs and also took leaves on the 3rd and 10th of September 2007. The working days you'll be taking is 24 (26-2).
I have made a synopsis of your example; please see the attachment. You don't have a conveyance allowance as a salary break-up.
Further, if anything comes to your mind, please feel free to ask.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
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Salary Sheet & PF PT Calculation & Challan.xls