Monthly wage - PLS help?

chokolat2

Hi everyone, I am a bit confused about whether I am actually getting paid correctly...and wondered if someone could help. I know its best to speak to the accounts dept at work, but I wanted to double check them..

So in my job my annual salary is 12,500

They divide this by the number of months = 12 and get a monthly salary of £1,041

This is then further divided by the number of actual days in a month (so 30 days for June) and then multiplied by the number of days I have actually worked..


For example
I started on 27th June 2011

12,500 / 12 = 1041
1041 / 30 = 34.7

34.7 x 4 (days I have actually worked til end of June)

= 138.80

Is this the correct way of doing it?

Tarzan

How many days a week do you work?

HappyMJ

Correct? Maybe.... I'd do it differently but that's me... I'd do 12,500/365*7/5 to figure a daily rate(£47.95) ( or 12,500/365*7/40(for an hourly rate of £6.00) then times 4 for days or 32 for hours. = £191.80

Note change the figure 5 for how many days you actually do or change the figure 40 to the number of contracted hours in a week.

edit: changed hourly rate as per next reply...

chokolat2

Tarzan wrote: »

How many days a week do you work?

5 days a week so 40 hours in a week

hcb42

I dont really follow the question - surely if you are getting £12.5K a year, and getting paid monthly, then if you get £12.5K/12 then that should equal your gross pay on your payslip. If it does, you are getting paid correctly.

Tarzan

£12500/52 weeks = £240.38

£240.38/5 days = £48.08 per day that you actually work.

£192.31 if you only worked 4 days in June and the wages are paid until the end of each month.

chokolat2

hcb42 wrote: »

I dont really follow the question - surely if you are getting £12.5K a year, and getting paid monthly, then if you get £12.5K/12 then that should equal your gross pay on your payslip. If it does, you are getting paid correctly.

I only started the job on 27th June (sorry maybe I didnt explain properly) so for the month of June was only paid for the 4 days which I worked...

chokolat2

Tarzan wrote: »

£12500/52 weeks = £240.38

£240.38/5 days = £48.08 per day that you actually work.

Thank you, so I am correct in thinking that they should only take into account my WORKING days in the month not all of the 30 or 31 days ?

HappyMJ

Tarzan wrote: »

£12500/52 weeks = £240.38

£240.38/5 days = £48.08 per day that you actually work.

£192.31 if you only worked 4 days in June and the wages are paid until the end of each month.

Needs to be 52.143 as there are slightly more than 52 weeks in a year.

Mrs_Arcanum

chokolat2 wrote: »

Thank you, so I am correct in thinking that they should only take into account my WORKING days in the month not all of the 30 or 31 days ?

Makes sense to me. The only difference is if you get paid some in advance & some in arrears, however it will always be based on time contracted to work not your days off.

Possibly easier to allow for an 8 hour day (unless this includes a lunch break) then could be less.

Tarzan

HappyMJ wrote: »

Needs to be 52.143 as there are slightly more than 52 weeks in a year.

Yes, I know that 52*7=364days. Trying to keep it simple but pretty accurate. I actually did it your way (12500/365*7/5) but as the OP was already confused decided against it.