Prorated Salary Formula:
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Prorated salary is the amount of pay a worker earns based on the actual time worked when they don't work a full pay period. It's commonly used for new hires, terminations, or leaves of absence.
The calculator uses the prorated salary formula:
Where:
Explanation: The formula calculates the portion of salary earned based on the ratio of days worked to total calendar days in the month.
Details: Accurate prorated salary calculation ensures fair compensation for partial month work and compliance with employment regulations.
Tips: Enter monthly salary in SGD, actual days worked, and total calendar days in the month. All values must be valid positive numbers.
Q1: When is prorated salary used?
A: Commonly used for new hires starting mid-month, employees leaving before month-end, or during unpaid leaves.
Q2: How are calendar days determined?
A: Use the actual number of days in the month (28-31). For February, account for leap years when necessary.
Q3: Does this include weekends?
A: Yes, prorated salary typically includes all calendar days unless specified otherwise in employment contracts.
Q4: What about public holidays?
A: Treatment of public holidays depends on company policy and employment terms.
Q5: Is this calculation MOM compliant?
A: This follows MOM's general guidelines, but specific cases may require consultation with MOM or HR professionals.