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

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


Hybrid - Prorated leave model (Floor) 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 Days leave available to consume.


[(i.e. 14/12 = 1.16 x 3 (July, Aug, Sep) = 3.48 Days in the concept of Floor the decimals are dropped = 3].





Product Version: SMEPayrollTM Version 11






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