Go Back   English Forum Switzerland > Help & tips > Employment  
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 27.04.2017, 12:19
Newbie
 
Join Date: May 2016
Location: Ireland
Posts: 5
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
ddartt has no particular reputation at present
Hourly rate calculation and 13th salary

Hi everyone,

Long time reader, but first question to ask .

Can someone advise what would be a correct formula for calculating an hourly rate when the annual salary is split into 13 installments (as it is common in Switzerland)? The correct calculation of the hourly rate, in this case, is important for some internal processes.

There are 2 approaches that I see, but I'm not entirely sure which is the correct one:

1) The hourly rate is annual salary divided by 12, and further by 21 (number of working days in a month) and number of working hours in a day,

2) The hourly rate is annual salary divided by 13, and then by 21 and number of working hours in a day.

The logic for the first option is that every hour worked is compensated by the current month paycheck and also by a small portion of 13th paycheck (prorated). So irrespective of how many installments the annual salary is split into (whether its 12, 13, or whatever), the actual rate per hour depends on the number of months in a year, and then working hours in that given month.

The logic for the second option is that 13th paycheck is completely separate from the monthly salary payments, hence should not be taken into consideration when calculating the hourly rate.

Thanks in advance for all opinions!
Reply With Quote
 




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
RAV payments and 13th salary Konuku Employment 16 09.03.2015 22:57
Cleaning Lady - Salary and Tax calculation Darione Finance/banking/taxation 5 12.11.2013 11:03
Hourly rate??? NatsBrit Employment 1 12.11.2008 00:37
MWST Flat Rate Calculation Guest Finance/banking/taxation 0 31.01.2008 16:58
13th salary and holiday allowance adam007 Employment 9 12.12.2007 12:47


All times are GMT +2. The time now is 23:01.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0