Leave Encashment Should Be Paid Of 26 Or 30
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Hi, good morning.My question is: suppose an employee worked only 22 days, but the total days, including days off, is 22 + 4 (days off) = 26\. Can they get a full salary when the salary calculation is based on 26 days, or will they only receive 22 days' salary wh...
Dear Manish,Monthly salary to be divided by 30/26 is really confusing. This one varies from organization to organization. But I think if you pay more than the legal requirement, then there is no problem. In our organization, we calculate OT/Gratuity by dividing ...
It is common that for deciding daily wage, the monthly wage is divided by 30 irrespective of whether the month has 30, 31, or 28 days. However, for calculating gratuity, it is to be divided by 26 only. Similarly, for finding out the retrenchment compensation as ...
Dear Atul,Please go through the state minimum wages notifications. As per the notifications for Haryana, Punjab, and Delhi minimum wages, it is clear that to calculate minimum daily wages, we are required to divide the minimum monthly wages by 26.You are correct...
Dear Mr. Anurag Jain,Before addressing your query, I would like to present an issue for you to analyze and respond to. I am presenting a hypothetical situation as follows: If an employee takes leave without pay for fifteen days in a month consisting of 30 days, ...
Dear Sir,I want to clarify from your side what the formula for leave encashment is. In other words, will we consider 26 days or 30 days for the payment of leave? Previously, when I was in Noida, I noticed many companies calculating leave encashment based on 26 d...
Hello Ganesh,In general, leave encashment is calculated by considering 30 days in a month. However, in my last organization, the leave encashment calculation was very specific. We used to calculate the amount of each leave according to the per day salary of that...
The method for calculating/deducting wages and that of calculating overtime (OT) wages should be the same for both.
If you talk about a workman as per the definition of a workman under the ID Act, then it needs to be 26 days only. For others, you may calculate either 26/30 as per your discretion.
Dear Team member,We are dividing salary by 30 days, including Sundays. Now, I want to know if OT hours should be calculated based on 26 days or 30 days.