Apply Pay Factor to Shift Premium
Select this check box to calculate the shift premium as a factor of the pay rate for a particular pay period.
Note: This check
box applies only if the shift premium amount is a domestic currency amount.
If you have activated this feature, the formula for calculating payroll is as follows:
If Pay Type = Regular, then:
pay-rate = (reg-rate + shift.prem-pay)
Else If Pay Type = Overtime then:
Else If Pay Type = Double-time then:
pay-rate = (dt-rate + (shift.prem-pay * (dt-rate / reg-rate) ) )
If you have not activated this feature, the formula for calculating payroll is as follows:
If Premium Amount is a domestic currency amount (based on shift.prem-type: [$ or %]):
pay-rate = pay-rate + shift.prem-pay
Else Premium Amount is a percent:
pay-rate = pay-rate * (1.0 + shift.prem-pay / 100)
Note: If the premium
amount is a percentage, the above equation overwrites this flag.