Here is how you compute your Monthly Rate
Monthly Rate
= (Daily Rate x Total working days in a year) / Months in a year
Example:
Daily Rate – 500
Total Working Days in a Year – 261
Months in a Year – 12
(500 x 261) / 12
= 10,875
Now you know how to compute your monthly rate. If you have any further questions, please send us a message on our requests page at support@payrollhero.com – we’d be happy to help.