Calculations

IRIS Cascade uses the following methods when calculating the employee’s Average Holiday Pay Amounts and Salary Day Removal.

Average Holiday Pay Calculation - Days

Monthly Frequencies

  1. Sum of calculated values in the reference period, for pay elements marked as Holiday Pay Items

  1. Divide by the number of Periods to Reference

  2. Divide by the average weeks per monthly period (52/12)

  3. Divide by days worked in the week according to working calendar

  4. Equals Average Daily Pay

Weekly, Lunar & Fortnightly Frequencies

  1. Sum of calculated values in the reference period, for pay elements marked as Holiday Pay Items

  2. Divide by number of Periods to Reference

  3. Divide by number of weeks in period i.e. 1 for weekly, 4 for lunar etc

  4. Divide by days worked in the week according to working calendar

  5. Equals Average Daily Pay

Average Holiday Pay Calculation - Hours

Monthly Frequencies

  1. Sum of calculated values in the reference period, for pay elements marked as Holiday Pay Items

  1. Divide by the number of Periods to Reference

  2. Divide by the average weeks per monthly period (52/12)

  3. Divide by contracted hours in the week according to working calendar

  4. Multiply by the number of hours in Holiday Day

  5. Equals Average Daily Pay

Weekly, Lunar & Fortnightly Frequencies

  1. Sum of calculated values in the reference period, for pay elements marked as Holiday Pay Items

  1. Divide by number of Periods to Reference

  2. Divide by number of weeks in period i.e. 1 for weekly, 4 for lunar etc

  3. Divide by contracted hours in the week according to working calendar

  4. Multiply by the number of hours in Holiday Day

  5. Equals Average Daily Pay

Average Salary Day Removal Calculation

For Salaried Employees where Salary Type is specified as Annual in Configuration

  1. Salary Pay Element selected in Configuration

  2. Sum of Annual Salary in the reference period

  3. Divide by number of Periods to Reference

  4. Divide by 52

  5. Divide by number of working days in week as per working calendar

  6. Equals Average Salary Day Removal

For Salaried Employees where Salary Type is specified as Period in Configuration

  1. Salary Pay Element selected in Configuration

  2. Sum of Salary Pay Element in the reference period

  3. Divide by number of Periods to Reference

  1. Divide by 52 Weekly, 4.3333 Monthly, 4 Lunar, 2 Fortnightly

  2. Divide by number of working days in week as per working calendar

  3. Equals Average Salary Day Removal