This page (revision-6) was last changed on 31-Aug-2022 11:03 by Karen Parrott

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

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Version Date Modified Size Author Changes ... Change note
6 31-Aug-2022 11:03 7 KB Karen Parrott to previous
5 24-Jun-2022 11:31 6 KB Kevin Higgs to previous | to last
4 26-Nov-2021 10:22 5 KB JMyers to previous | to last
3 26-Nov-2021 10:22 5 KB JAiken to previous | to last
2 26-Nov-2021 10:22 5 KB JMyers to previous | to last
1 26-Nov-2021 10:22 330 bytes JMyers to last

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PREMIUM_CALC_RULE
PREMIUM_CALC_RULE

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At line 7 changed one line
|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
|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
At line 15 changed one line
|12|[UPTG] Period $$$|Premium Rate the frequency indicated\\Flat amount created during [UPTG]\\This rule is only applicable when generating dollars and not if you’re generating hours.|Yes|Premium Rate = 6.00\\Frequency = WK (from ISPM)\\Pay Frequency = Biweekly\\Result = $12.00 for this pay period (6.00 per week).
|12|[UPTG] Period $$$|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).
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|14|Increment Time|Increment Time is used in [ITIO] -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.
|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.
At line 20 changed one line
;:__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.__
|21|Increase Wage by Flat Amount|Premium Rate as a Flat Amount + Employee’s Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate = 5.00\\Rate Basis = HR (from [ISPM] form)\\EE’s Wage Rate on payline = 25.00/Hour\\Calc = 5.00 + 25.00\\Result = $30.00 per hour for each transaction with this premium attached\\[IPPC] line details rate source must be set up with;\\'Prime + Premiums'\\'Assign + Premiums'\\'Job/Posn + Premiums'\\'Job + Premiums'
|23|Increase Wage by Percentage|Premium Rate as a Percentage + Employee’s Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved|Yes|Premium Rate = 10.00\\Rate Basis = HR (from [ISPM] form)\\EE’s Wage Rate on payline = 50.00/Hour\\Calc = (10/100*50.00) + 50.00\\Result = $55.00 per hour for each transaction with this premium attached\\[IPPC] line details rate source must be set up with;\\'Prime + Premiums'\\'Assign + Premiums'\\'Job/Posn + Premiums'\\'Job + Premiums'
|24|FF PPL RRM Prem x EV x UVar|Follow Pay Line Salary Rate method Premium Rate X Entered Value X PC User Variable Rate\\Premium Type attached to [IPPC]\\Created when Pay Line is created/saved\\The premium follows the calculation of the Pay Line rate, i.e. if Pay Line is 'variable rate' then the premium is using the same 'variable rate' logic to calculate the premium amount|N/A|Premium Rate = 2100\\Rate basis = YR (from ISPM form)\\**IPPH - Variable Rate\\Pay Line PC has Type=Computed Value and Salary Method=Variable Rate(Hours)\\Pay Period has 11 working days\\Entered Value = 8 \\Time PC basis = HR (from transaction)\\EE’s Hours/Day = 8\\User Variable Rate = 1\\Calc = 2100 / 24 / 88 * 8\\Result = $7.954545 =$7.95\\**IPPH - Annualized Rate\\Pay Line PC has Type=Computed Value and Salary Method=Annualized\\Entered Value = 8 \\Time PC basis = HR (from transaction)\\EE’s Hours/Day = 8\\User Variable Rate = 1\\Calc = 2100 / 52 / 40 * 8\\Result = $8.076923 = $8.08
At line 24 added one line
;:%%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.%%
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[{If var='loginstatus' contains 'authenticated'
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![Discussion|Edit:Internal.PREMIUM_CALC_RULE]
[{InsertPage page='Internal.PREMIUM_CALC_RULE' default='Click to create a new discussion page'}]
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}]
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![Notes|Edit:Internal.PREMIUM_CALC_RULE]
[{InsertPage page='Internal.PREMIUM_CALC_RULE' default='Click to create a new notes page'}]
This page (revision-6) was last changed on 31-Aug-2022 11:03 by Karen ParrottTop