Monthly And Daily Salary Calculation
Lately I met a wife of an entrepreneur at a networking event. She told me she is helping her husband in doing his company’s payroll matters, and asked me about computation of pay matters. I shared some basics with her, and to my surprise, she was unaware of even the basics. Let me share them here…
You may receive a monthly or daily salary. Daily wages are calculated using either the gross rate (for paid public holidays, paid leave, salary in lieu and salary deductions) or the basic rate (for work on rest days or public holidays).
How an incomplete month pay is calculated ?
Salary for an incomplete month of work is calculated as follows:
Monthly gross rate of pay
————————————
Total number of working days in that month
x
Total number of days the employee actually worked in that month
For a monthly-rated employee, the basic rate of pay for 1 day is calculated as follows:
12 x monthly basic rate of pay
————————————
52 x average number of days an employee is required to work in a week
Hope above helps. Feel free to PM me if you need help, I shall be glad to help.
If you need help, feel free to contact us at :
(M) +65 90880669
