I just started working for a new company, and I am a bit concerned I am not being paid the correct salary. I basically figured my gross monthly income times 12 months. The amount is considerably less then the salary I agreed upon. Am I figuring this incorrectly? For example... 923.06 per month times 12 would equal 11076.72, but the salary was 12000.00 per year. Hopefully this makes sense. Anyway... Thank you for serious responses.
2006-11-29 16:01:16 · 4 answers · asked by Choochie Larue 3 in Business & Finance ➔ Careers & Employment
I am paid salary semi monthly. I used the total gross amount paid per month in my figure. I only receive 2 checks per month regardless of the number of weeks in a month, so I don't understand the 26 payment theory, but I have heard that before. Thoughts?
2006-11-30 17:25:04 · update #1
Well, how are you being paid? Is it monthly? Is it every four weeks (this would equal 13 paydays) is it every two weeks (this would equal 26 paydays). Just putting this on the calculator it seems that you are paid by one of these two ways-that comes to $11,999.78 if you're paid every four weeks.
2006-11-29 16:13:12 · answer #1 · answered by dulcrayon 6 · 0⤊ 0⤋
i was looking at my last payroll statement and i got 27000 annual sal. plus 20% differential that adds 32400 i got paid twice a month and my check matches exactly my gross pay 1,350 so i guess you are not being paid correctly
OK i think i figured out, i applied your payment the way i get mine so... because some months have 31 days an some 30 your regular weekly hours are 173.34 ( i got this number from my statement i work 86.67 hours every payment ) 923.06 div by 173.34= 5.3267 that's what you make in one hour, now 12 pmnts a year = 11079.96. meaning there is not other explanation you are being under paid there is not such thing as 13 or 26 payments a year, february only got 3 weeks that`s why you can say every mont have 4 weeks you can only have in mind that you got 173.34 hours a month and a check every first ( or 30th ...28th on feb ) or first (or 30th )and 15th.
2006-11-29 16:26:31 · answer #2 · answered by cano_x100pre 2 · 0⤊ 0⤋
By default CTC is a term used for an yearly period. CTC means Cost to Company. CTC includes Basic + PF contributions + Bonus + Other benefits Each company will have different items in CTC. Your take home salary will be much much less than the CTC To get an approx take home salary per month divide the CTC by 16 Say a persons CTC is 800000 then the monthly take home salary will be approx 50000
2016-03-29 16:43:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yep.
2006-11-29 16:08:48 · answer #4 · answered by robert m 7 · 0⤊ 0⤋