The latest salary calculation method on Excel
The latest salary calculation method on Excel: Continuous updates on salary calculation is a necessary task for human resources and administrative employees today. Before the application of technology, manually calculating salaries was prone to errors. Since the advent of Excel, this tool has provided great support in storing information and calculating the wages of employees.
The latest salary calculation method on Excel
Points to note in the current salary calculation and payroll processing
The basis for making a payroll:
Labor contracts: The labor contract clearly shows the basic salary of the employee that has been agreed upon with the employer before. This is the basis for an accurate basic salary calculation.
Monthly attendance sheet: The attendance sheet clearly shows the number of days the employee has worked.
For cases where salaries are calculated based on the product, there needs to be a confirmation slip that the work has been completed.
The company’s own rules on bonuses and salaries.
The latest salary calculation method on Excel
The minimum regional wage level stipulated by the State.
In the labor contract:
Basic salary: is the individual income if the employee works all days in the month. The basic salary must not be lower than the minimum wage level stipulated by the State.
Other allowances: fuel, housing, lunch, special duties, responsibilities, and other allowances (if any), etc.
In practice, the salary calculation for employees also depends on other factors of the company but still ensures maximum benefits for employees. These are the basic factors used as a basis when calculating wages for employees.
Forms of salary calculation and payment today
Salary calculation based on actual working time in the month:
This salary calculation method depends on the basic salary and the actual working days of the employee.
The formula is as follows:
Monthly salary = [(Basic salary + allowances, support) / the standard number of working days of the company] * The actual working days of the employee.
Where: standard number of working days = number of days in the month – number of allowed days off.
This salary calculation method is often applied to those working in state agencies and office staff.
Salary calculation based on product quantity
This salary calculation method based on the product is often applied mainly to manufacturing companies where employees need to meet the highest workload. This method is often called “eat more, work less”.
Usually, employees in companies that calculate salaries based on products often have very low basic salaries or no basic salaries. The formula for calculating salaries based on products is:
