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MartinSmith
Jul 24, 2009, 06:16 AM
Hi all,

Have an employee who is paid semi-monthly on salary. What formula do I use to calculate his daily rate as he did not work a full pay period?

Thanks
Martin,
Gulftex Operating, Inc.
morgaine300
Jul 25, 2009, 02:27 AM
Semi-monthly means twice a month. Times 12 months equals 24 total payrolls in a year.

How you want to get to daily depends on your point of view. The easy way is to take the yearly number and divide by 52, then divide by the number of days worked per week, presumably 5.
Chey5782
Jul 25, 2009, 02:43 AM
http://www.usnh.edu/banner/cheat-sheets/active/CalcDailyRateSalaryEmpl.pdf

This has instructions for manual calculation in it.