How to compute monthly salary?

I want to ask regarding the salary calculations.
Is it general or depends on each institutions?

What i know from my previous employer the computation is as follows:

Monthly pay
______________                      x  Days of actual work

Total of working days
(includung public holiday)

But my current employer is not computing same

Monthly pay
_____________                      x days of actual work

Total of days in a month

Which one is correct? Please enlighten me

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