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What is The Correct Formula to Calculate Pro-Rated Annual Leave

An annual leave is a type of paid leave taken by employees for vacation or personal reasons that is typically given for a period of one year at a time. At times, you may wish to find out how many days of Annual Leave you have so that you can plan your holidays. 📽 In this video, you will learn how to calculate the pro-rated Annual Leave entitlement at any point of time as you want. Do take note that every company’s calculation might be slightly different depending on what formula they are using, but the numbers will not be much difference. What is the meaning of round up and round down? Round up and round down refer to the HR practice of increasing or decreasing a number to the nearest whole number. How to know when to round up or round down? If the decimal number consists of .1 to .2, it will round down to the nearest whole number. If the decimal number consists of .3 to .4, it will round up to the nearest whole number. If the decimal number consists of .5, there is no rounding up nor down is needed because it is already representing half. If the decimal number consists of .6 to .7, it will round down to the nearest whole number. If the decimal number consists of .8 to .9, it will round up to the nearest whole number. Here are the examples: For example, if an employee is entitled to the below days of Annual Leave, the rounding will work as such: 7.1 round down to 7 days 7.2 round down to 7 days 7.3 round up to 7.5 days 7.4 round up to 7.5 days 7.5 remain as 7.5 days 7.6 round down to 7.5 days 7.7 round down to 7.5 days 7.8 round up to 8 days 7.9 round up to 8 days If the decimal is double digit, the rounding up or down works the same. If you find the videos useful and would benefits any of your friends and connection, do share it out. 😊💡❤️🤝