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Daily Salary Formula:
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Daily salary calculation is a method used to determine the daily wage from a monthly salary, particularly in Malaysia where the standard practice is to divide the monthly salary by 26 working days.
The calculator uses the standard Malaysian formula:
Where:
Explanation: This formula assumes a standard work month of 26 days, which is commonly used in Malaysian payroll calculations.
Details: Accurate daily salary calculation is essential for various purposes including pro-rated salary calculations, overtime computations, leave encashment, and part-time work arrangements.
Tips: Enter your monthly salary in Malaysian Ringgit (MYR). The calculator will automatically compute your daily salary based on the standard 26-day work month used in Malaysia.
Q1: Why divide by 26 instead of 30 or 31?
A: In Malaysia, the standard practice is to use 26 working days per month, excluding weekends, to calculate daily rates for various employment purposes.
Q2: Is this calculation method legally required?
A: While not strictly mandated by law, this method is widely accepted and commonly used in Malaysian payroll practices and employment contracts.
Q3: What if my company uses a different number of days?
A: Some companies may use different calculations (like 22 or 24 days). Always check your employment contract or company policy for the specific method used.
Q4: Can this be used for part-time work calculations?
A: Yes, this daily rate can be used as a basis for calculating part-time or pro-rated salaries, but actual calculations may vary based on specific arrangements.
Q5: Does this include public holidays?
A: The 26-day calculation typically excludes weekends but includes public holidays as paid working days, unless otherwise specified in employment terms.