Hybrid - Prorated 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 September he/she would have 3.48 Days leave available to consume. (i.e. 14/12 = 1.16 x 3 (July, Aug, Sep) = 3.48 Days in the concept of prorated.
Product Version: SMEPayrollTM Version 11