What is this:
"PR" stands for "Pay Rate". This payroll variable returns pay rate defined in placement profile.
Value will be returned:
Returns pay rate defined in placement profile. By default the pay rate of the pay type of which you are editing the pay formula is used.
A staff is being paid a "Transportation" of $1000 every month. You have already defined the pay rate in placement profile. Uses the following to get the pay rate in payroll:
[PR] is the most used payroll variable and the classic use is of course to calculate the monthly salary. Usually this is formulated as "daily rate x number of days worked". To get the daily rate, uses:
[PD] is "Period Days" and this variable will return number of days within the payroll period. Therefore the combined statement will give daily rate of this month.
By default [PR] returns the pay rate for the pay type you are working at. To get pay rate from other pay type, use [PR(PAY_TYPE_CODE)]. For example, you are preparing the formula for "No Pay Leave" of which the unit rate is calculated from Basic Salary (let's assume its pay type code is "BS". The following formula:
returns Pay Rate from Basic Salary and divided by number of days in the period.
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