For those who are earning a fixed amount every month, how do you compute for your daily wages?
I follow this formula:
[(monthly salary x 12 months) / 365 days]
Whereas, your monthly salary is multiplied by 12 (the total number of months in a year) then the result is divided by 365 (the total number of days in a year; days off considered to be paid).
You, who do you compute yours?
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2 thoughts on “How Do You Compute Your Daily Wage?”
365 should not be the divisor. The common divisors in computing for your daily wage are 260, 261 and 262 (depending on the number of holidays). Computing daily wages are important for fixed income earners because this where payroll computes for their OT and night differential.
Having 365 as the divisor is totally wrong. You cannot consider a day off as paid. When you consider that you only work for 22 to 24 days per month, having 365 as the divisor is absurd.
year include 365 days but we shall exempt holidays for determining divisor hve to do some working , you must subtract 52 holidays by it , u will get 313 days nw subtract 13 Festival leaves 300 remains nw subtract 14 Annual leaves,Sick leaves 16 and Causual leaves 10 u will get 260 divisor for calculating appropriate wages ..
365 should not be the divisor. The common divisors in computing for your daily wage are 260, 261 and 262 (depending on the number of holidays). Computing daily wages are important for fixed income earners because this where payroll computes for their OT and night differential.
Having 365 as the divisor is totally wrong. You cannot consider a day off as paid. When you consider that you only work for 22 to 24 days per month, having 365 as the divisor is absurd.
year include 365 days but we shall exempt holidays for determining divisor hve to do some working , you must subtract 52 holidays by it , u will get 313 days nw subtract 13 Festival leaves 300 remains nw subtract 14 Annual leaves,Sick leaves 16 and Causual leaves 10 u will get 260 divisor for calculating appropriate wages ..