Simple salary calculation
This query is : Resolved
08 May 2012
Pls let me know the common practice of calculating salary under the following situation -
A staff is being recruited at Rs. 8000/-p.m But he joins on 11th of say April.and incurrs loss of pay for one day - How should the salary be calculated ???
My version : His salary for april (11th to 30th) should be 8000/30*20 days since he has joined only on 11th.which is 5333/- LoP shud be calculated based on 5333/- i.e 5333/30 *1 = 178/- So the salary will be 5333-178 = 5155/- Is this correct ?
My collegues say that his LoP shud be calculated on 8000/- i.e 8000/30*1 = 267/-
and salary for april will be 5333-267 = 5066/- they authenticate saying that Tally calculates so ! which is correct...pls help me.
A staff is being recruited at Rs. 8000/-p.m But he joins on 11th of say April.and incurrs loss of pay for one day - How should the salary be calculated ???
My version : His salary for april (11th to 30th) should be 8000/30*20 days since he has joined only on 11th.which is 5333/- LoP shud be calculated based on 5333/- i.e 5333/30 *1 = 178/- So the salary will be 5333-178 = 5155/- Is this correct ?
My collegues say that his LoP shud be calculated on 8000/- i.e 8000/30*1 = 267/-
and salary for april will be 5333-267 = 5066/- they authenticate saying that Tally calculates so ! which is correct...pls help me.
CS GURVINDER SINGH
(Expert)
09 May 2012
Your Collegues are Right,
Bcoz the person is recruited on Rs. 8000/- basic pay per month, which means 8000/30 x 1 = Rs. 266.66/- per day.
You are dividing Rs. 5333/- by 30 days which is actually 20 Days salary.
which also means that he got Rs. 5333/20 x 1 = 266.66/- per day
Bcoz the person is recruited on Rs. 8000/- basic pay per month, which means 8000/30 x 1 = Rs. 266.66/- per day.
You are dividing Rs. 5333/- by 30 days which is actually 20 Days salary.
which also means that he got Rs. 5333/20 x 1 = 266.66/- per day
Message likes :
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30 May 2012
Now i understood. thanq so much for clarifying Mr. Singh. My collegues were not able to explain the point that am dividing by 30 instead of 20 which u hv clarified. Thanq once again. :)
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