Why Wages Calculation Is Done By 26 Or 27 Days Only
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Dear Rajesh,As per labor regulations, the consideration is for 26 days only. Some may consider it as 30 or 31 days, but the overall payment per month will remain consistent at Rs. 10,000\.Calculations:- For 26 days: Rs. 10,000 / 26 = Rs. 384.61- For 30 days: Rs....
Dear Sir,Is the calculation of salary based on 26 days correct, or should it be based on 30 days?Thank you.
Dear Sumit,We will consider the monthly salary as mentioned in the previous comments. It will be divided by 28 for that month. If we remove Sundays, 24 days will be considered, and the salary will be the same as the previous month. Only the daily wages will diff...
@Rajesh:> Dear Sir,> > Is the calculation of salary on 26 days correct or should it be on 30 days?> > Dear Mr. Rajesh,> > Legally, we are required to calculate the salary based on 26 days only.> > Regards,> GANESH> DGM - HR
Dear sir,Greetings for the day,I agree with Rajesh that the calculation will be done on the 26th day instead of 30 or 31 days, but for the month of February, the days will be 24 instead of 26.Thanks & Regards,From,Sumit Kumar Saxena
Dear Gaurav,The formula is 26/15 * Number of years of service.Thanks,Vineet
To arrive at a yearly gratuity amount, you need to multiply the monthly salary by 15/26 as stipulated in The Payment of Gratuity Act.
Hi Gaurav,26 is the total number of working days in the organization, and 15 is the number of days you have worked out of those 26 days. Hope it's clear now! You can refer to the link for the Gratuity Payment Act: [https://www.stacowiki.in/en/acts/st-central/the...
Dear KUMARACME,Thank you for your reply, but my question is: what is the main role of 15 days and 26 in the above formula? Please clear my confusion.Kind regards,[User's Name]
Dear All,I want to confirm the roles of 15 days and 26 in the formula mentioned below. Please clarify my confusion as soon as possible.Gratuity Calculations: [(Basic Pay + DA) * 15 Days * No. of years of Service] / 26.