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Hourly Salary Basis : Calculation for Annual Salary Figure for different standard working hours Comb

Received Response
edited Feb 21, 2023 5:50PM in Compensation 4 comments


Same Hourly Salary basis and annualization factor for different standard working hours combinations but it appears annual salary figure which is getting derived is wrong / incorrect

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We have got a Hourly Salary basis with Frequency = Hourly and Annualization factor of 1898( derived as 36.5 * 52). This 36.5 is nothing but standard working hours per week . We want to use the same salary basis of hourly population but with different standard working hours (lets say 40 / 44 / 36.5 per week etc. as an example) .

When Doing this system is calculating annual salary as Salary Amount * Annualization Factor)

Salary Amount here is hourly rate (take 10 for easy calculations) and factor as 1898 so every one irrespective of the standard working hours is showing annual salary of 18980

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