Common use of Hourly, Daily and Partial Month Calculations Clause in Contracts

Hourly, Daily and Partial Month Calculations. ‌ The formula for paying a biweekly or hourly salary is as follows: Monthly Salary x 12 mos. = Biweekly Salary 26.0892857 Biweekly Salary = Hourly Rate 70 The daily rate shall be determined by multiplying the number of regularly scheduled hours in the employee's day shift by the hourly rate. For the purposes of converting a biweekly rate to a monthly rate, the formula will be as follows: The formula for paying a partial salary to employees paid on a biweekly basis is: When an article in this Agreement has a reference to payments at the "end of the month following the month" in which an event occurs, payment will be "at the end of the second pay period following the pay period" in which the event occurs. Similarly, a reference to payments on specified dates will mean payment on the closest pay period payday to the specified date.

Hourly, Daily and Partial Month Calculations. ‌ The formula for paying a biweekly or hourly salary is as follows: : 26.1 Monthly Salary x 12 mos. = Biweekly Salary 26.0892857 Salary 26.1 Biweekly Salary = Hourly Rate 70 The daily rate shall be determined by multiplying the number of regularly scheduled hours in the employee's day shift by the hourly rate. For the purposes purpose of converting a biweekly rate to a monthly rate, the formula will be as follows: The formula for paying a partial salary to employees paid on a biweekly basis is: When an article in this Agreement agreement has a reference to payments at the "end of the month following the month" in which an event occurs, payment will be "at the end of the second pay period following the pay period" in which the event occurs. Similarly, a reference to payments on specified dates will mean payment on the closest pay period payday to the specified date.