Hourly rate for percentage elements is returning an incorrect amount
(Doc ID 743575.1)
Last updated on SEPTEMBER 06, 2019
Applies to:Oracle HRMS (UK) - Version 10.7 and later
Information in this document applies to any platform.
-- Problem Statement:
User has an element which is a percentage of salary (called 'shift allowance').
Another element is overtime element, which uses rates history to call the elements with the 'Overtime' rate.
The shift allowance has the overtime rate attached.
When the hourly rate is being calculated for the overtime, the hourly rate is for multiplying the hourly rate by the FTE value. for example:
Annual Salary = 32114
Overtime = 1 Hour
Shift Allowance = 10% (of salary for the period.
FTE = 0.5
Hours in year = 1820
Periods per year = 13 (lunar payroll)
In a given month the values should be:
Basic Pay = (32114 / 13) * 0.5 = 1235.15
Shift Allowance = 1235.15 * 0.1 = 123.52
Overtime = (32114 * 0.1)/1820 = 1.76
The actual values being calculated for the overtime element are 0.88.
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