Calculation for the different types of Pay Elements

Calculation for the different types of Pay Elements

There are few types of calculation on the pay element.

Below are the details.

  1. Daily > Basic Pay / working days in a month
  2. Daily (Gross Pay) > Gross Pay / working days in a month
  3. Daily (Annual) > (basic pay x 12) / (working day per week x 52)
  4. Daily (Annual Gross Pay) > (gross pay x 12) / (working day per week x 52)
  5. Hourly > (basic pay x 12) / hour per year
  6. Hourly (Annual Gross Pay) > (gross pay x 12) / hour per year

Please take note for Pay Element that is considered as gross pay, user need to tick "Is Gross Pay Rate" under Element Calculation for that particular Pay Element