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How To Calculate Rate of Pay for Monthly-rated Employees? (Hong Kong)
How To Calculate Rate of Pay for Monthly-rated Employees? (Hong Kong)

Calculating Rate of Pay (ROP) in payroll. Under Hourly/Daily Attendance tab.

Chloe Ng avatar
Written by Chloe Ng
Updated over a week ago

For Talenox Hong Kong users, the calculation of Rate of Pay (ROP) for employees will by default follow the "Proration Calculation" setting selected for the whole company.

Where Can I Set This Up?

You can head to Profiles > Company Details > Payroll Details > Proration Calculation and select from any of the options available:

  • Calendar Days

  • Working Days

NOTE: The ROP being referred to is the Rate of Pay of the pay items under the "Hourly/Daily Attendance" tab in payroll processing. Some examples of this are:

  • Regular/Overtime Hours

  • Regular/Overtime Days

  • Rest Day Pay


Formula of Rate of Pay According to Selected Settings

We calculate ROPs using formulas based on the selected proration settings seen below:

1) For "Calendar Days" proration setting selected

  • Daily rate: (12 x Basic Pay) / 365

  • Hourly rate: [(12 x Basic Pay) / 365] / working hours per day

2) For "Working Days" proration setting selected

  • Daily rate: (12 x Basic Pay) / (52 x working days per week)

  • Hourly rate: [(12 x Basic Pay) / (52 x working days per week)] / working hours per day

NOTE:

  • Working hours per day: Working hours per week / Working days per week

  • Hourly rate: Daily rate / working hours per day

  • Rest Day Pay: 2 x Daily rate

Based on the formulas above, you'll need to ensure that the following sections for each employee is keyed in accurately (under Company Details page):

  • Working Day Settings

  • Working Hour Settings

  • Proration Calculation


If you'd like to change the Proration Setting for pay items in the Attendance tab in payroll, you can adjust this according to each specific pay item selected.

View the steps on how to do so here:


We hope this information proves helpful! Wishing you a great time processing your payroll with Talenox. πŸ‘

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