Monthly wage - PLS help?

heretolearn_2

In my firm I would have worked out your daily rate at £48.07. you are only supposed to divide the annual rate by number of working days in the year, not the whole 365 to get a daily rate, and it's silly to do it by an individual month. If you are salaried your daily rate is the same every working day, not different depending on whether it's February or August with their different number of days in a month.

Mudd14

LadyMissA wrote: »

if you do a straight forward 5 day week you work 260 days a year that includes holidays but use this to work out

12,500 / 260 = 48.07 per day ok

so 4 days should be 4 x 48.07 = 192.30

what did you get then?

I always use this calculation for peole working 5 days a week.

chokolat2

I have spoken to my financial controller today and she explained that the reason why she calculates and divides by the actual number of days in the month (30 or 31) is because my salary includes holidays and bank holidays.....
I still don't really understand, whether she is doing it correctly, as the majority here are stating to divide by working days, not actual days in a month....

Mudd14

Bank holidays and holidays?! Whats that got to do with anything they are paid days included in the 260 days per year your contracted for.

chokolat2

Mudd14 wrote: »

Bank holidays and holidays?! Whats that got to do with anything they are paid days included in the 260 days per year your contracted for.

Exactly! THis is the first time ever I have come across this.....
I even re-checked my contract..its stated that I am contracted to work 5 shifts per week with each shift 8 hours. This is 40 hours a week...

Savvy_Sue

Have you worked out whether your hourly rate for these odd days is more than the NMW? If not, it's definitely wrong ...

Do your 8 hour shifts include a break, paid or unpaid?

LadyMissA

Savvy_Sue wrote: »

Have you worked out whether your hourly rate for these odd days is more than the NMW? If not, it's definitely wrong ...

Do your 8 hour shifts include a break, paid or unpaid?

they are on £6 per hour so 4 days at 8 hours a day is £192.30 like I keep saying

LadyMissA

Mudd14 wrote: »

I always use this calculation for peole working 5 days a week.

its right as I worked in payroll for 4 years

LadyMissA

chokolat2 wrote: »

I have spoken to my financial controller today and she explained that the reason why she calculates and divides by the actual number of days in the month (30 or 31) is because my salary includes holidays and bank holidays.....
I still don't really understand, whether she is doing it correctly, as the majority here are stating to divide by working days, not actual days in a month....

so how much did you get for the 4 days?? Tell us and I will tell you if its right as I think its not

Evilm

chokolat2 wrote: »

I have spoken to my financial controller today and she explained that the reason why she calculates and divides by the actual number of days in the month (30 or 31) is because my salary includes holidays and bank holidays.....
I still don't really understand, whether she is doing it correctly, as the majority here are stating to divide by working days, not actual days in a month....

She is wrong. Holidays come out of the 260ish working days in a year! They shouldn't be counted as extras that you are expected to 'work'.

Point out to her that this means you are working for less than minimum wage for those four days. Or ask her what your hourly wage is and compare that to your pay for those days was - point out the difference and explain thats why you think she is wrong.

Or point her here: This works out your daily wage based on your yearly salary: http://www.thesalarycalculator.co.uk/salary.php