Hi HR Professionals,
I would like to know how the salary is calculated for the month. Is it a standard of 30 days for all year or according to the number of days in a month, like in February will it be calculated for 29 days or 30 days?
Regards,
Deepti
From India, Delhi
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I would like to know how the salary is calculated for the month. Is it a standard of 30 days for all year or according to the number of days in a month, like in February will it be calculated for 29 days or 30 days?
Regards,
Deepti
From India, Delhi
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See, it is different for Monthly Paid and Daily Paid salary. If you are calculating for a monthly rated employee, then you have to use the formula: Fixed Salary/month days * Payable Days. For a daily rated Employee, the formula will be Fixed salary * Payable Days.
In the case of Monthly Paid, Payable Days include Actual Present Days + Paid Holidays + Weekly Off + Leaves. In the case of daily wages, weekly off will not be payable.
For Calculating Leave Encashment, use 30, and for Gratuity, use 26 as the divider.
Regards,
Vijay Dere
From India, Pune
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3In the case of Monthly Paid, Payable Days include Actual Present Days + Paid Holidays + Weekly Off + Leaves. In the case of daily wages, weekly off will not be payable.
For Calculating Leave Encashment, use 30, and for Gratuity, use 26 as the divider.
Regards,
Vijay Dere
From India, Pune
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Mr. Vijay Dere,
Is there any law or act to calculate earned leave for 30 days? When calculating, you should use the following formulas:
- For employees with a fixed salary per month: Fixed Salary / Month Days * Payable Days
- For daily rated employees: Fixed Salary * Payable Days
In the case of monthly-paid employees, the Payable Days include Actual Present Days, Paid Holidays, Weekly Off, and Leaves. For daily wage workers, Weekly Off will not be payable.
To calculate Leave Encashment, use 30 days, and for Gratuity, use 26 as the divisor.
From India, Guntur
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Is there any law or act to calculate earned leave for 30 days? When calculating, you should use the following formulas:
- For employees with a fixed salary per month: Fixed Salary / Month Days * Payable Days
- For daily rated employees: Fixed Salary * Payable Days
In the case of monthly-paid employees, the Payable Days include Actual Present Days, Paid Holidays, Weekly Off, and Leaves. For daily wage workers, Weekly Off will not be payable.
To calculate Leave Encashment, use 30 days, and for Gratuity, use 26 as the divisor.
From India, Guntur
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Mr. Kalijanni, No there is no any act or law but monthly paid employees are getting salary generaly for 30 days .That’s why, r u got my point?
From India, Pune
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From India, Pune
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Dear Deepti, use the following formula for easy understanding.
Monthly Salary = Gross Salary / No. of days in the month * No. of days present in the month.
If an employee is getting a gross salary of Rs. 8000/-. Then his salary will be as follows if he is present on all days.
For 31 days, Monthly salary = 8000 / 31 * 31 = Rs. 8000/-
For 30 days, Monthly salary = 8000 / 30 * 30 = Rs. 8000/-
For 28 days, Monthly salary = 8000 / 28 * 28 = Rs. 8000/-.
If any LOP occurs, just deduct the number of days present in the month.
From India, Mumbai
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Monthly Salary = Gross Salary / No. of days in the month * No. of days present in the month.
If an employee is getting a gross salary of Rs. 8000/-. Then his salary will be as follows if he is present on all days.
For 31 days, Monthly salary = 8000 / 31 * 31 = Rs. 8000/-
For 30 days, Monthly salary = 8000 / 30 * 30 = Rs. 8000/-
For 28 days, Monthly salary = 8000 / 28 * 28 = Rs. 8000/-.
If any LOP occurs, just deduct the number of days present in the month.
From India, Mumbai
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Leave Encashment & Salary Calculation.xls x