How To Calculate The Average Monthly Salary | Jobs And Careers

 

 

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How to calculate the average monthly salary

The procedure for calculating the average wage is regulated by Russian labor legislation. This figure as the average monthly wage is needed to calculate the various benefits, compensation and other payments.

How to calculate the average monthly salary

You will need:

- timesheet; - Payroll.

Instruction how to calculate the average monthly salary

Step 1:

First, determine for how long you need to calculate the average monthly wage, for example, six months (6 calendar months). If this period is not fully worked out, it is necessary to sum only those days that, according to the labor legislation, can be included in the billing period.

Step 2:

This could include the days of the actual stay at work, days of enforced idleness and others. Excluded from the calculation period of absenteeism, absence from work on sick leave, the days of maternity leave, maternity care and other periods that are set by the labor legislation.

Step 3:

When calculating the compensation for unused leave, the number of working days in the month is rounded. That is, if you have worked for more than 15 days in one calendar month, it shall be counted as a whole, and vice versa, at least 14 days worked and did not include in the calculation period.

Step 4:

Then add up all the fees for the required period. Note that the one-time premium, any financial assistance, various dividends, loans must be deducted from the total.

Step 5:

Then divide this total by the number of months in the billing period. The resulting number will be the size of the average monthly wage.

Step 6:

If you need to calculate the average monthly wage for severance pay, first calculate the average daily earnings. Then multiply that number by the number of working days in the first or, if necessary, in subsequent months after the dismissal of workers.