Calculate Incomplete Month Salary
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Dear All,Could someone please try to resolve this issue? Let's clear up any misunderstandings regarding the number of days. I kindly request senior members to provide the exact calculation. Please.Regards,Bittu (Nagpur)
Dear Suresh,The salary components are calculated as below:Basic Salary = 50-60% of gross salary.HRA = 40% in case of Non-metros and 50% in case of Metros (HRA is calculated based on Basic & also for tax exemption).The rest will come as Special Allowances, TA - R...
Dear Sharmila,You mentioned that standard working days should be considered as 30 days in a month irrespective of 28/29/30/31\. However, suppose the salary is to be calculated for the month of August (for example, with 31 days in that month). In such a case, sho...
In this thread, people are mixing two distinct points - one day salary for gratuity calculations and one day salary for monthly computation. Calculations are different for both. For gratuity calculations, 30 days are taken as standard. However, for monthly salar...
@k_shenbagarajan:> Dear All,> > I hope this Excel sheet will help you out. Please review it and provide your feedback.> > I have not included the PF and ESI deductions. If you adjust the LOP, the salary will be calculated automatically.> > The template provided ...
Dear Ms. GHR,The salary is calculated as below:Actual Salary = Gross Salary / No. of Days in the month * No of days workedGross salary = 100,000So for 28 days, Actual Salary = 100,000 / 28 * 28 = 100,000\. His 1-day salary is 3,571/-For 30 days, Actual Salary = ...
Dear Suresh,We don't have a specific law stating the same, but this is followed mostly in all the companies. The tax exemption slab under various sections is also taken into account for the tax benefit of the employee, e.g., like Rs. 800 for TA and Rs. 1250 for ...
Normally, the notice pay is calculated based on the basic salary. If it is simply referred to as "salary," it may be interpreted as gross pay. It is advisable to review the detailed conditions outlined in the appointment letter. However, it is not logical to inc...
Employer Not Following the Notice Period NormsDear Seniors,Please help me; it is very urgent. I am Ram from Madurai. My company's headquarters are in Bangalore, and my work locations are in Chennai and Madurai. It is an eLearning company, and we work in some sch...
Hi Members,I need some clarification on calculating the salary in lieu of the notice period. My appointment letter states that I need to serve a 2-month notice period; however, either party can end the employment by paying 2 months' salary in lieu of the notice ...