This page (revision-11) was last changed on 26-Nov-2021 10:22 by JMyers

This page was created on 26-Nov-2021 10:22 by JMyers

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IVSPM
IVSPM

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At line 9 changed 6 lines
;[Entity|ENTITY_CODE]:
;[Unit|UNIT_CODE]:
;[Premium|PREMIUM_CODE]:
;[Description|DESCRIPTION]:
;[Premium Type|PREMIUM_TYPE_CODE]:
;[Premium Type Sequence|PREMIUM_TYPE_SEQUENCE]:
;[Entity|ENTITY_CODE]:Premiums are associated with the entity identified in this field.
;[Unit|UNIT_CODE]:Each premium must be associated with a unit which may be identified in this field.
;[Premium|PREMIUM_CODE]:The name of the premium is identified in this field.
;[Description|DESCRIPTION]:This field holds a description of the premium code.
;[Premium Type|PREMIUM_TYPE_CODE]:In this field, the premium is categorized into one of the premium types created in the [ISPT] form.
;[Premium Type Sequence|PREMIUM_TYPE_SEQUENCE]:The sequence field is used to determine an order of priority for premiums.
At line 20 changed 4 lines
;[Calculation Rule|PREMIUM_CALC_RULE]:
;[Rate Basis|RATE_BASIS]:
;[Rate|PREMIUM_RATE]:
;[Premium Prorated|PREMIUM_PRORATED]:
;[Calculation Rule|PREMIUM_CALC_RULE]:Premium Calc rule is the rule that will be used to calculate the premium.
;[Rate Basis|RATE_BASIS]:This field defines the time period (hour, day, week, year) used with the premium rate value provided.
;[Rate|PREMIUM_RATE]:This is the rate that will be used when the Premium Calc rule includes “premium rate” in the formula.
;[Premium Prorated|PREMIUM_PRORATED]:This field will indicate if the premium paid will be prorated based on the employee’s FTE value.
At line 25 changed 2 lines
;[Pay Point Type|PAY_POINT_TYPE]:
;[Pay Point Sequence|PAY_POINT_SEQUENCE]:
;[Pay Point Type|PAY_POINT_TYPE]:This field displayes the point in the payroll cycle when the premium should be processed.
;[Pay Point Sequence|PAY_POINT_SEQUENCE]:This field defines the sequential order of each step taken within a pay point.
At line 66 removed 19 lines
|| ||Premium Calc Rule:||Formula / Notes||FTE Pro?||Example:
|01|Premium Rate|Premium Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate=6.00\\Frequency = (not applicable)\\Result = $6.00 for each transaction with this premium attached
|02|Prem Rt Per Period|Premium Rate for the pay period frequency\\Flat amount created during [UPAUDT]|Yes|Premium Rate=6.00\\Pay Frequency=Monthly\\Result = $6.00 given once each pay.
|03|Prc x Wage Rt|Premium Rate as a Percentage X Employee’s Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate = 100.00\\Rate Basis = WK (from [ISPM] form)\\EE’s Wage Rate = 50,000/year\\Calc = 100 / 100 * $50,000 / 52 wk\\Result = $961.54 for each transaction with this premium attached (100% of 1 weeks’ pay)
|04|Prem Rt x PC UVar|Premium Rate X PC User Variable Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate = 10.00\\Rate Basis = (not applicable)\\User Variable Rate = 1.5\\Calc = 10.00 * 1.5\\Result = $15.00 the rate basis of the premium and the pay component that originated the transaction (if there is one), are not applicable
|05|Prc x Wg Rt x UVar|Premium Rate as a Percentage X Employee’s Rate X PC User Variable Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate = 15.00\\Rate Basis = WK (from [ISPM] form)\\EE’s Wage Rate = 10.00/hr\\EE’s Hours/Week = 40 (from Assignment)\\User Variable Rate = 2\\Calc = 15 / 100 * $400 * 2\\Result = $120.00 for each transaction with this premium attached ($400 is the weekly rate)
|06|Prem x EV|Premium Rate X Entered Value\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|N/A|Premium Rate = 10.00\\Rate Basis = DY (from [ISPM] form)\\EE’s Hours/Day = 8 (from Assignment)\\Entered Value = 4\\Time PC basis = HR (from transaction)\\Calc = 10.00 / 8 * 4\\Result = $5.00 for this transaction
|07|Prem x EV x Wg Rt|Premium Rate X Entered Value X Employee’s Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|N/A|Premium Rate = 0.25\\Rate Basis = HR (from [ISPM] form)\\Entered Value = 8\\Time PC basis = HR (from transaction)\\EE’s Wage Rate = 10.00/hr\\Calc = 0.25 * 8 * 10\\Result = $20.00 for this transaction
|08|Prem x EV x UVar|Premium Rate X Entered Value X PC User Variable Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|N/A|Premium Rate = 4.00\\Rate basis = DY (from ISPM form)\\Entered Value = 6 \\Time PC basis = HR (from transaction)\\EE’s Hours/Day = 7.5\\User Variable Rate = 1.5\\Calc = 4 * (6 / 7.5) x 1.5\\Result =$4.80 based on the fact that a day is 7.5 hours, so the time was 0.8 days
|09|Prem x EV x Wg x UVar|Premium Rate X Entered Value X Employee’s Rate X PC User Variable Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|N/A|Premium Rate = 5.00\\Rate basis = HR (from [ISPM] form)\\EE’s Wage Rate = 15.00/hr\\Entered Value = 9\\Time PC basis = HR (from transaction)\\User Variable Rate = 0.005\\Calc = 5 * 9 * 15 * 0.005\\Result = $3.38
|10|Contract Limit Prem|Only applied to the Contract Limit on [IEAS] when an employee is in a ‘Contract’ type Group|N/A|Premium Rate = 1500.00\\Rate basis = CT (from [ISPM] form)\\This amount is included in the Contract Limit.
|11|Cell Points| | |N/A – custom calc rule
|12|[UPTG] Period $$$|Premium Rate the frequency indicated\\Flat amount created during [UPTG]\\This rule is only applicable when generating dollars and not if you’re generating hours.|Yes|Premium Rate = 6.00\\Frequency = WK (from [ISPM])\\Pay Frequency = Biweekly\\Result = $12.00 for this pay period (6.00 per week).
|13|UPTG Period Cell Pts| | |N/A – custom calc rule
|14|Increment Time|Increment Time is used in Time Scheduling -determined by the Clock In and Out times and the Time Type.| |Used on premiums attached to the Pay Line, and – not to the Position, Job or Assignment. This restriction is imposed since the ‘Override Rate’ is the key value in the formula and it would always be entered for premiums of this type.
|15|Pay Period Premium|Flat dollar amount that is given once per pay period. If there are multiple pays in a pay period, this will be give only once.| |
|16|Flat Amount Per Day|Flat dollar amount that is given once for each day worked. If there are multiple transactions on the same day, it will be given only once. FTE is not relevant here.| |
;:%%information The examples show that where there is a difference between the rate basis of the premium and the rate basis of the employee or the time transaction, a conversion of the rate will occur using the employee’s hours per day, or the rate basis of the time transaction, as applicable.%%
This page (revision-11) was last changed on 26-Nov-2021 10:22 by JMyersTop