Announcements for Payroll and OTL can now be found in the Announcements - Payroll and OTL - EBS (MOSC) subcategory. Follow to be sure you don't miss a thing!
Need assistance in Payroll formula!!!!(Shared Parental Leave - Part week payment
Need assistance in Payroll formula!!!!(Shared Parental Leave - Part week payment
Example:
Weekly rate of ShPP £138.18
ShPP weeks run from Wednesday to Tuesday
A monthly paid employee paid on the last day of each month.
The monthly ShPP payment for July 2015 would consist of 4 full weeks of ShPP and 3 days.
4 x £138.18 = £552.72 PLUS part week payment of (138.18 x 3) / 7 = £59.22 (for 29/07/15 – 31/07/15)
Total ShPP payment for July = £611.94
The remaining part week payment for ShPP week 29/07/15 – 04/08/15 is (138.18 x 4) / 7 = £78.96 and is added to any other payments of ShPP that are due in August.