How To Calculate The Salary

Table of contents:

How To Calculate The Salary
How To Calculate The Salary

Video: How To Calculate The Salary

Video: How To Calculate The Salary
Video: How to Calculate Employee Salary Income Tax in Ethiopia - Payroll formula & Tax Rate Calculator 2021 2024, March
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The salary established by the contract signed upon employment is a fixed amount that each employee receives on a monthly basis. Of course, we are not talking about cases of absence from work due to illness and leave on vacation. However, despite the seeming simplicity of the calculations, workers sometimes have difficulties with how to calculate the salary.

How to calculate the salary
How to calculate the salary

Instructions

Step 1

If you want to calculate the salary you will receive in January, when the holiday week reduces the number of days worked for all employees of the organization, then just look at the employment contract. You will receive the amount indicated in it. The fact is that the salary is set as a fixed amount for a calendar month, regardless of the number of working days. That is why the received salary, for example, for February will be equal to the salary, for example, for September.

Step 2

However, it is often necessary to calculate the salary paid for one day of work for various information, calculation of benefits and vacation pay. In this case, divide your salary by the number of working days in each month. Since the salary is a constant value, then in months with a different number of working days, the cost of one working day will change accordingly. For example, in January there are only 15 working days instead of the usual 22. Consequently, the cost of 1 working day in January is higher than in any other month.

Step 3

If you receive a salary in your hands that does not coincide with the amount specified in the employment contract, check with the management what your salary is composed of. Perhaps the salary structure includes a bonus, which is often paid in an informal way. In this case, to calculate the salary, subtract the amount of the bonus from the received salary, and divide the remaining amount by 0.87. Thus, you will find out the amount of your salary, from which the employer pays 13 percent personal income tax.

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