Determine Payout Wage Rate#
This component indicates which rate is used to calculate the value of the time owing.
Choose the rule to be used as the ‘Determine Payout Wage Rate’ rule
| Rule | Description | Logic | Assoc. | Go to |
|---|---|---|---|---|
| 01* | Use Established Rate | Uses the wage rate as defined in A010. Rule 01 is used i the full amount owing is calculated based on the employee's current rate. Example: From the official record, Time Owing is 60 hours and Wage Rate is $8.00/hr. From the unofficial record, time owing is 66.667 hours, and Wage Rate is $10.00/hr (1 month entitlement this evaluation = 6.667 hours). The payout wage rate would be $10.00. | A010 | A730 |
| 02 | Use Average Rate | Calculates the wage rate based on an average of the wage rate(s) used when old entitlements were earned and the wage rate used for this entitlement. The actual calculation is: (Accrual Record Amount Earned + (Entitlement This Evaluation x Current Wage Rate)) Total Time Owing Including This Evaluation. Rule 02 is used if the entitlement earnings are based on the wage paid at the time earned. Example: From the accrual record, Time Owing is 60 hours and Wage Rate is $8.00/hr. Therefore, Amount earned is 60 x $8.00 = $480. From the calculated entitlement, time owing is 66.667 hours, and Wage Rate is $10.00/hr. If 1 month entitlement this evaluation is 6.667 hours, the amount earned is 6.667 x $10 = $66.67. The payout wage rate would be calculated as: ($480 + $66.67) / 66.67 = $8.20. | A010 A700 A730 | A730 |
Notes #
Click to create a new notes pageScreen captures are meant to be indicative of the concept being presented and may not reflect the current screen design.
If you have any comments or questions please email the Wiki Editor
All content © High Line Corporation