Tier 1 extension queries

[zsdelhi]

Hi every one, i am a new member here and based in London currently.

I will apply for an extension to my T1 general visa in Dec 2011. For earnings the requirements is to show previous 12 months bank statements where in the salary has been transferred and also the original payslips from employer. I started working in September 2010 in a contract role paying hourly rates. This contract expires Feb 2011. There are many questions i have:

1. Is it acceptable to show the payslips of contract job in the application?
2. As contract job pays hourly basis,payslips are weekly rather than monthly, would it create a problem ?
3. In my scenario there is no per annum salary as required in UKBA guidelines. The employer has not stated a annula package but the hourly contract rates. Do I have to calculate based on each month salary and aggregate the salary in present it in my application ? Is there a particular way this is calculated as per UKBA and is it acceptable ?
4. If suppose I am not able to get another position say for eg. in March 2011, but say I got a job April 2011, but then i will not be able to show consecutive 12 months salary in my application? Is this acceptable ?

I request anyone to please advise and assist me as I am getting really worried about my extension application.

Regards,
zsdelhi