Premiums

The starting date and time for the premium time range.

• The start date and time fields cannot be changed.
• To change the start date and time is to delete the premium record and re enter.

 

The stop date and time for the premium time range.

• Any time that falls between the start and end date and time will be paid at the specified premium rates.
  
  

Defines the priority of the premium.

• The highest priority that can be assigned is A, the second highest is B etc.
• The value of the Priority Code field cannot be changed.
• To change the priority is to delete the premium record and re enter.

Example  If an employee works 4 hours of Premium 2 time and 4 hours of Premium 3 time, and both premiums have Majority Rules set to Majority, the employee is paid the premium rate with the highest priority. If the Premium 2 is set to priority B and Premium 3 is set to priority A, all 8 hours are paid at Premium 3 rates.

 

The description of the premium record

The Time Code to be used for Regular Hours.

The Time Codes to be used for overtime.

Determines how an employee is paid when they work in more than one premium time rage.

E	Equally. Pays and employee's entire shift at the rate that the majority of the employee's hours fall. An employee qualifies for the premium if they work greater than or equal to half of their shift within the premium time range.
M	Majority. Pays an employee's entire shift at the premium rate only if the employee works over half the shift within the premium time range.
N	No Majority or Equal Required. Pays and employee's hours at the rate that the hours actually fall. Only those hours that fall within the premium time range will be paid at the premium rate. The balance will be paid at the rate in which they fall.

 

Example If an employee works three hours of Premium 1 and five hours of Premium 2, when the majority rule is set to E or M, the employee will be paid 8 hours of Premium 2. If the majority rule is set to N, the employee will be paid three hours of Premium 1 and five hours of Premium 2.

 

Specifies if overtime hours are included in determining if the majority of the employee's hours were worked within a premium time range.

Y	Include overtime Hours.
N	Do not include overtime Hours.

• This field is only valid if Majority Rules is set to E or M.

 

Example  An employee receives a premium pay rate when they work the majority of their hours between 3:00p and 11:00p. If an employee works from 10:00am to 10:00p accumulating 8 regular and 4 overtime hours, the employee will be paid the premium pay rate for all hours worked if the Include OT Hours field is set to Y. The majority of the hours worked occurred within the premium record of 5 outside and 7 inside the Premium Record. If the Include OT Hours field was set to N, the employee would not receive the premium pay rate, the majority of the employees regular hours were worked outside of the premium record of 5 outside and 3 inside.

 

The number of hours an employee must work during a premium time range before the hours count as premium time. Many companies use this feature to prevent employees from accruing premium time, if their regular time shift briefly crosses over into a premium zone.

• If the Expanded window Start and End fields are left blank, an employee must work this minimum number of hours between the date and times entered in the premium Start/Stop Date and Time fields, before the hours count as premium time.
• If entries are made in the Expanded window Start and End fields, an employee must work the minimum number of hours between these dates and times before the hours count as premium time.

 

Must the employee meet the Minimum Hours requirement for each shift, or only once for the entire premium time range to qualify for this premium.

• If required to pay a set number of premium hours, e.g. 8 when a minimum number of hours have been worked, e.g. 32, then set this field to Y.
• The system would look at all the hours worked during the defined premium range, ignoring shifts, instead of considering each shift, individually, for minimum requirements.

 

These fields specify the range of hours that qualify for the premium pay rate. The default values for these fields are blank and 999.99, which would pay all hours worked within the premium time range at the premium pay rate.

• The first hours field specified the minimum number of hours an employee must work within the premium range before the employee starts receiving the premium pay rate.
• The second hours field specifies the hour that stops paying the premium pay rate.
• The Expanded window Start and End fields can extend the time during which an employee's hours worked count toward the Pay On All Hours Between limits.

 

The Must Start Work Between and Must End Work Between are optional fields and can specify a range of time within which an employee must start and end work in order to receive premium pay.

• The system uses the rounded in and out punches to determine start and end times.

 

These fields can extend the time during which the employee's hours worked count towards the minimum hours limit. The default setting of 0000 or blank means no expansion window is used.

Example Must start work at/or after - 16/11/08 at 10:00p Must start work at/or before - 16/11/08 at 11:30p Must end work at/or after - 17/11/08 at 6:30a Must end work at/or before - 17/11/08 at 09:00a In order for the employee to receive the premium, they must start work on or between the hours of 10:00p and 11:30p on 16/11/08 and stop work on or between the hours of 06:30a and 09:00a on 17/11/08.

 

Determines if an employee who works in this premium time range can qualify for overlapping premium time ranges that have lower priorities.

Y	This premium will override all other premiums with lower priorities
N	This employee can qualify for overlapping premiums with lower priorities, in addition to this premium.

 

Example  If an employee qualifies for a premium with a Priority of B and Bypass Premiums with Lower Priorities field set to Y, the employee would not qualify for any premiums with a priority code lower than B . The employee could still qualify for premiums with a priority code equal to or higher than B.

 

Is this premium record to roll forward to the next Pay Period?

Y	This premium rolls forward to the next Pay Period
N	This premium does not roll forward to the next Pay Period

• If using premiums to pay employees a bonus for working on a holiday, setup a premium that does not roll forward to the next Pay Period.

 

Determines if multiple Time Codes can be accumulated on each interval of time.

Y	The specified premium Time Codes will be paid, instead of those setup on the Pay Period Profile.
N	The specified premium Time Code will be paid, in addition to the Time Codes setup on the pay Period Profile.

 

• This field is normally unchecked if interfacing the Preceda Time to a software package that used the premium Time Codes to add a dollar amount for working different shifts.
• Example:- If an employee works 8.00 hours of shift 2 premium if the Premium Hours Reduce Regular Hours field is blank, the employee receives 8.00 hours of pay category PREM2 and 8.00 hours of pay category REG.
• If the Premium Hours Reduce Regular Hours field is checked, the employee receives only 8.00 hours of pay category PREM2.

 

Hours are assigned to the premium, call-in premium, and holiday premium Time Codes, based on the regular overtime routine qualifiers setup in the Pay Period and Daily rules Profiles.

The Regular premium, Regular call-in premium and Regular holiday premium Time Codes are to be assigned to hours that qualify as Regular Hours, as defined in the Pay Period and Daily Rules profiles.

The Overtime Block 1, 2 3 and 4 premium, call-in premium and holiday premium Time Codes are to be assigned to the hours that qualify as overtime hours, as defined in the Pay on All Hours Over field for the overtime routines, and also setup in the Pay Period and Daily rules profile.

An adder Time Code is often used to assign a bonus multiplier to employees who work the period of time each week most difficult to staff. The bonus hour that the employee receives is determined by multiplying the number of hours worked by a specified factor set up in the Multiplier field.

The employee's regular hours multiplied by the multiplier records the total hours an employee is to receive. The bonus hours are assigned to the Time Code entered in the Time Code field, and the regular hours are assigned to the Time Code entered in the Regular Hours field for the daily, weekly and pay period overtime routines.

A monetary premium is a specified dollar amount paid to an employee who works in a premium time range. A number of hours that the employee must work to receive the monetary premium, then that dollar amount is paid each time the employee has worked that number of hours during the premium time rage, is specified.

Example Set the monetary premium to pay an additional 10 dollars for each 4 hour worked in the premium time range. When the employee works 8 hours during the premium time range, the system adds 20 dollars to the monetary time code.

 

The copy premium feature can be helpful in eliminating data entry when setting up premiums. Premiums can be copied forward to future dates, permitting the use of existing premiums without additional data entry, or premiums can be copied back to past dates when necessary.

When copying premiums forward a designated number of days can be skipped, as in the case of a weekend, skipping 2 days etc. This does not apply to Backward copy.