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    MartinSmith's Avatar
    MartinSmith Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 24, 2009, 06:16 AM
    Daily rate
    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's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    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's Avatar
    Chey5782 Posts: 423, Reputation: 65
    Full Member
    		  
    #3

    Jul 25, 2009, 02:43 AM
    http://www.usnh.edu/banner/cheat-she...SalaryEmpl.pdf

    This has instructions for manual calculation in it.
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