How To Calculate Average Monthly Earnings

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How To Calculate Average Monthly Earnings
How To Calculate Average Monthly Earnings

Video: How To Calculate Average Monthly Earnings

Video: How to calculate average monthly balance 2022, December
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The procedure for calculating the average wage is regulated by Russian labor legislation. An indicator such as the average monthly wage is required to calculate various benefits, compensations and other payments.

How to calculate average monthly earnings
How to calculate average monthly earnings

It is necessary

  • - time sheet;
  • - payroll.

Instructions

Step 1

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

Step 2

This may include days of actual stay at work, days of forced absenteeism, and others. Exclude from the billing period absenteeism, absence from work on a certificate of incapacity for work, days of maternity leave, parental leave and other periods established by labor legislation.

Step 3

When calculating compensation for unused vacation, the number of days worked per month is rounded up. That is, if you worked more than 15 days in one calendar month, it is counted as a whole and vice versa, with 14 or less days worked it is not included in the billing period.

Step 4

After that, add up all payments for the desired period. Please note that one-time bonuses, any material assistance, various dividends, loans and borrowings must be deducted from the total amount.

Step 5

After that, divide the received amount by the number of months in the billing period. The resulting number will be the average monthly wage.

Step 6

If you need to calculate the average monthly wage for the payment of severance pay, first calculate the average daily after you leave.

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