How do we calculate salaries do we include non wor...
# compensation-and-benefitss
Sai Venkata Vinay Chittuluru
02/09/2023, 10:57 AMHow do we calculate salaries do we include non working days saturday sunday
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Rohan Mankad
02/09/2023, 10:58 AMYes, you include them in the pay as a paid holiday
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Sai Venkata Vinay Chittuluru
02/09/2023, 10:59 AMDo we divide yearly salary with 365 or monthly salary with 31 how to incorporate
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Rohan Mankad
02/09/2023, 11:00 AMWhat's the ask? What is the end goal of the data?
Rohan Mankad
02/09/2023, 11:01 AMNormally you divide the CTC component by 12 to arrive at monthly gross do all deductions arrive at monthly net
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Sai Venkata Vinay Chittuluru
02/09/2023, 11:01 AMHow do you pay for Feb
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Rohan Mankad
02/09/2023, 11:02 AMNot sure what is the ask here do you want to pay daily?
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Sai Venkata Vinay Chittuluru
02/09/2023, 11:02 AMHow do you calculate loss of pay
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Rohan Mankad
02/09/2023, 11:08 AMLoss of pay when days = 30
-> INR 30,000/30 = INR 1,000
Loss of Pay when days are calculated excluding Weekends
let’s say there are 8 Saturdays and Sundays in month
Effective days = 30-8=22 days
Loss of Pay = INR 30,000/22=INR 1,364/-
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Rashmi Utnal
02/09/2023, 12:56 PMWhen we calculate loss of pay, weekends are also included that is the standard practice
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Rashmi Utnal
02/09/2023, 12:56 PMFor calculation of salary by default it’s taken as 30 days irrespective to the month
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Harender Bisht
02/23/2023, 10:07 AMHi @Sai Venkata Vinay Chittuluru
Here is the simple calculation for the salary
To calculate yearly salary = Monthly CTC X 12
To calculate monthly salary = Daily CTC X 30
Loss of pay calculation: gross salary/30 X (lop days)
for rough calculation
Daily CTC: 1,000
Monthly CTC: 1000 X30 = 30000
Yearly CTC: 30000 X 12 = 360000
LOP 5 Days: 30000 / 30 X 5 = 25000