What is the Fixed Yearly - Prorated (Floor) leave model?

What is the Fixed Yearly - Prorated (Floor) leave model?


Fixed Yearly – Prorated (Floor) leave model calculates the leaves based on the number of months of service. Under this leave model, leaves are available to an employee on a prorated basis.



For example:


An employee has joined the company on 01 January and he/she has 14 Days Annual Leave entitled for that year. The leaves will be prorated as given: 

Formula = [14 (Leaves) /12 (Months)] * Number of completed months.
​Formula = 1.16 * Number of completed months. So if the employee is applying for leave in April he/she would have 3 Days leave available to consume. [i.e. 14/12 = 1.16 x 3 (Jan, Feb, March) = 3.49 in the concept of floor the decimals are dropped = 3]



Product Version: SMEPayrollTM Version 11






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