Please advise if the salary is calculated based on the number of days in a month or if 30 days is considered the standard in India.
I recently joined a new company where I worked for 23 days without taking any leaves. The company calculated my daily salary by dividing my monthly salary by 31. Is this the standard process?
Thanks
From India
Acknowledge(0)
Amend(0)
I recently joined a new company where I worked for 23 days without taking any leaves. The company calculated my daily salary by dividing my monthly salary by 31. Is this the standard process?
Thanks
From India
Acknowledge(0)Amend(0)
Salary Calculation from Monthly to Daily
Salary calculation from monthly to daily is followed by different organizations using different methods. Only in the MW Act and PG Act is it mentioned to arrive at the daily rate from the monthly rate by dividing the monthly rate by 26.
There are organizations that use factors such as 31/30/29/28 to determine daily wages as applicable in a particular month. Some organizations use only the factor 30 to determine the daily rate.
I have come across one organization, an MNC, where for arriving at the daily rate, the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi
Acknowledge(1)
Amend(0)
367Salary calculation from monthly to daily is followed by different organizations using different methods. Only in the MW Act and PG Act is it mentioned to arrive at the daily rate from the monthly rate by dividing the monthly rate by 26.
There are organizations that use factors such as 31/30/29/28 to determine daily wages as applicable in a particular month. Some organizations use only the factor 30 to determine the daily rate.
I have come across one organization, an MNC, where for arriving at the daily rate, the monthly rate is multiplied by 12 and then divided by 365.
From India, New Delhi
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
SALARY SHEET CALCULATION.xls
Salary calculation.doc