Daily paid employees are based on the actual days worked while the monthly paid employees are paid everyday of the month.
How it is calculated?
Monthly Paid Employees:
Complete attendance for employees within the payroll period period means
Monthly Basic Salary or Semi-Monthly= Complete Attendance
If the attendance is incomplete:
[ Monthly Basic Salary or Semi-monthly basic salary - (monthly basic salary x 12 months/ factor rate x number of days absent) ]
Employee's Basic Salary: 20,000
Semi- Monthly Basic: 10,000
Total Income: 9,000
Daily Paid Employees:
Complete attendance for employees within the payroll period means
the total number of days multiply by the daily rate of employee
Employee's Daily Rate: 500
Number of Days for the payroll period: 13 days
Total Income: 6,500
For any questions, feel free to get in touch with your Customer Success Manager or email us at experts.