Hi There,
I am new to the payroll hence could you please advise if the below method is correct to calculate payroll.
Calculating Hours in a month =
- Weekly hours = 38
- Yearly hours = 38*52
- Monthly hours = (38*52)/12
Calculating Hourly rate =
- Yearly Rate = 75,000
- Weekly Rate = 75,000 / 52
- Hourly Rate = (75,000 / 12) / 38
Thank you