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Daily Rate Formula:
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The daily rate calculation converts monthly salary to daily wage based on the standard 26 working days per month used in Malaysia. This is essential for pro-rata salary calculations, overtime payments, and temporary employment arrangements.
The calculator uses the Malaysian standard formula:
Where:
Explanation: This formula divides the monthly salary by 26 working days to determine the daily rate, following Malaysian employment standards.
Details: Accurate daily rate calculation is crucial for proper payroll management, overtime compensation, pro-rata salary for part-time work, and ensuring compliance with Malaysian employment regulations.
Tips: Enter the monthly salary in Malaysian Ringgit (MYR). The calculator will automatically compute the daily rate based on 26 working days per month.
Q1: Why 26 working days in Malaysia?
A: Malaysia typically uses 26 working days per month as the standard calculation, based on a 5-day work week (Monday to Friday).
Q2: Is this applicable for all employment types?
A: This calculation is standard for monthly-paid employees. Different calculations may apply for daily-rated workers or those with irregular working patterns.
Q3: How is overtime calculated using daily rate?
A: Overtime is typically calculated as 1.5 times the hourly rate (daily rate ÷ 8 hours) for normal overtime and 2-3 times for public holidays.
Q4: Does this include rest days and public holidays?
A: The 26-day calculation excludes weekends and public holidays. Rest days and public holidays are paid separately according to employment contracts.
Q5: What if my company uses different working days?
A: Some companies may use different calculations (e.g., 22, 24, or actual working days). Always check your employment contract and company policy.