PF (Provident Fund) refers to the amount deducted from the salary and put away in a PF account. It is designed to ensure enough funds are saved to adequately get an employee through retirement. Method 1 – Calculate the Basic Salary Using the Gross Salary Below, we have a dataset of the...
It is important to understand what loss of pay is to understand its implications and adopt the best strategies to calculate loss of pay in salary.Read the blog to understand LOP (Loss of Pay), the factors determining LOP, and how to calculate lop in salary slip. You will also gain an o...
Calculating an Annual Salary from Bi-Weekly Pay Determine your bi-weekly wage. If you are paid by the hour this would be the number of hours you work in two weeks multiplied by your hourly wage. The amount you get from this calculation would be your pay before taxes. If your pay varies...
Method 1 – Using the YEARFRAC Function to Calculate the Prorated Salary in Excel Twonew columns were added to the dataset:Year FractionandAmount. Steps: SelectE5. Enter the following formula in the selected cell. =YEARFRAC(C5,D5,1)
If you are a contract worker receiving a per diem salary, you are paid a specific amount of money for each day that you work. There are times that you may need or want to know your annual salary, and this can present a challenge because you may not know how many days you are actual...
If an employee leaves your SME, it's important you know how to calculate their final pay. Get up to speed with this simple how-to guide.
Newly recruited employees and people who are new to the corporate world often complain that they receive a substantially less amount of salary in hand as compared to what was promised to them. This is because of the difference between the three terms Gross Salary, Net Salary and Cost to ...
Full-Time Equivalent (FTE) alludes to the unit of estimation equivalent to an individual (employee or student) one unit of work or school day, relevant in a variety of contexts. It's a way for managers to gauge the number of full-time workers they have,
Another way to calculate daily salary is to use the employee’s regular hourly rate. To do this, you will need to know the employee’s standard hourly rate and their work hours per day. Then, multiply the employee’s regular hourly rate by their work hours per day. ...
One common mistake of people new to self-employment is undervaluing their time and expertise. Don’t fall into that trap—set your price for what you are worth. If you are new to the field, you’ll need to price yourself at the lower end of the average salary for your field, but if...