The Difference Between Daily Paid and Monthly Paid Employees
Daily paid employees are based on the actual days worked while the monthly paid employees are paid everyday of the month.
How is it 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) ]
Example:
Employee's Basic Salary: 20,000
Semi- Monthly Basic: 10,000
Absent: 1,000
Total Income: 9,000
Daily Paid Employees:
Complete attendance for employees within the payroll period means
the total number of hours worked multiply by hourly rate
Example:
Employee's Daily Rate: 500
Work hours per day: 8
Hourly rate: 500/8 (Daily rate/work hours per day) = 62.5
Number of hours worked: 104 hours
Total Income: 6,500