What is the Hybrid – Prorated (Rounding) leave model?

What is the Hybrid – Prorated (Rounding) leave model?


Hybrid – Prorated (Rounding) 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 October he/she would have 4 Days leave available to consume.


[(i.e. 14/12 = 1.16 x 4 (July, Aug, Sep, Oct) = 4.64 Days in the concept of Rounding the decimals are rounded up to the nearest integer = 4].




Product Version: SMEPayrollTM Version 11






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