Pro Rata Formula
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Hi,Thank you for helping me by providing the formula for calculating leaves on a prorata basis. This has removed half of my doubt. Also, please help me by providing the "reasoning" on whether the leaves have to be calculated according to the calendar year or fin...
Hi,You can achieve this. You need to check for the joining date of the employee (for new joinee) to allocate the leaves on a pro-rata basis. The formula would be somewhat like this:Suppose your company gives 20 leaves in a year, then Pro-Rata Leave Calc = (20 * ...
All laws pertaining to leave prescribe calculations for a calendar year, be it the Factories Act or the Shops and Establishments Act. Can we do it for the Financial Year? It is possible as long as your calculations account for some leave and as long as the inspe...
Hi,That solely depends on your company policies. Some statutory leaves run from Jan-Dec, while others can be either Apr to Mar or Jan to Dec.
Hi,I am working in an IT company (startup) and in the process of formulating HR policies. This is regarding the leaves - I wanted to know whether the leaves are calculated on the basis of the calendar year or financial year. If so, can you please give the reason...
Hi,You can achieve this. You need to check for the joining date of the employee (for new joiners) to allocate the leaves on a pro-rata basis. The formula would be somewhat like this:Suppose your company gives 20 leaves in a year, then Pro-Rata Leave Calculation ...
Hi all,Please help me out. I am in a peculiar situation regarding Medical reimbursement. This is in accordance with Indian Income Tax.REIMBURSEMENT: - This exemption is available in respect of: Reimbursement up to Rs. 15,000 [12 months * Rs 1250] for medical tre...
Dear All,I want to understand how pro rata annual leave salary is calculated. I need all the information pertaining to pro rata.
To calculate the leave balance in Excel based on a pro-rata basis when the joining date falls between months, you can use the following formula. For example, if the joining date is 22/07/21, the formula will help determine the accurate leave balance.
Everything in any process is not required to be done by a formula in Excel. There should be some intuition based on common sense.Let us consider the employee who joins on 22/07/2021 and becomes eligible for leave on 01/01/2022\. The organization's leave policy o...