Daily Rate Calculations FAQs and considerations
FAQs:
1. Do input fields for custom days support decimal points?
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Certainly, you have the option to include days up to two decimal places.
2. What is the scope of leave encashment in the new Daily Wage Calculator?
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Currently, leave encashment in the daily wage calculator is only covering the end-of-service calculations.
3. What would happen to my existing unpaid leave policies if I change the daily wage calculation?
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To update your unpaid leave deduction calculations using the daily wage calculator, simply toggle the overwrite switch. However, if you prefer to customize the daily wage calculation based on individual leave policies, ensure that the overwrite switch is turned off.
4. Is there an upper or lower limit to the number of days I select for custom days calculation?
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You can specify any number of days for custom days calculation, as there are no restrictions on the upper or lower limit.
5. What if I have accepted unpaid leave requests in the ongoing month and I change my daily wage calculation for unpaid leaves?
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To ensure that the new calculation applies to current requests, you will need to remove the previous requests and submit them again with the updated calculation.
6. What if I have posted transactions for some employees in the current month and I change the salary proration calculation?
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You will have to reject the transactions for these employees in the ongoing month to change your calculation. You will be notified of who these employees are within the daily wage calculator.
7. Will I be able to configure a daily rate for paid leave types eligible for encashment during the end of service?
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Yes, you can continue to determine how each paid leave is calculated for the end of service through the End of Service Eligibility section under payroll configurations. However, if you want to impose one calculation for all of these leave types, you can do so by turning on the overwrite switch in the daily wage calculation for leave encashment.
8. Is there an option for me to choose the allowances that I want to consider while computing the daily rate?
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Unfortunately, it is not possible to choose the specific allowances that you wish to incorporate into your daily rate calculations.
9. Is it feasible to assign different rates to various employee categories?
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At the moment, we do not have this flexibility but can be considered later in our future releases.
Considerations:
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The past calculations will remain unchanged and follow the old rate without any modifications.
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In the event that you modify the salary proration for your employees after submitting transactions for the current month, you will need to reject the transactions for those specific employees and then resubmit them. This will ensure that the salary calculations reflect the updated proration accurately.