Premium Setup - Premium Rules

 

Premium Rules are established to assign pay rates to organization levels items. To add a new premium rule navigate to Company Setup – Premium Setup – Premium Rules, after selecting Add, the following page will display:

 

Field Name

Description

Name

Name for the premium rule

Description

Premium rule description

Active

Active Status for the premium rule (if the status is ‘Inactive’, the option will not appear on Company – Premium Groups for selection)

Compare Code

To compare the pay rate for the org level with the employee’s base rate or use the rate from the premium rule. Set to equal value to use the rate from the premium rule.

Fixed Amount

Not used at this time.

Hourly Amount

Not used at this time.

Maximum Amount

Not used at this time.

Minimum Amount

Not used at this time.

Org Level Depth

Org level depth to match

Org Level Item

Org level item to match

Pay Factor

Pay factor to apply when calculating the pay rate for the org level

Pay Rate

Pay rate to apply for the org level item

Pay Type

Pay type to be matched when applying the pay rate. Leave at ‘N/A’ to apply the rule to all pay types.

Earning Code

Earning code to be matched when applying the pay rate. 

Percentage

Not used at this time.

Premium Type

Determines how the premium rule is applied. Set to ‘Replace Rate’ to use the pay rate defined in the premium rule for any hours worked in the org level. 

Shift Type

Shift type to be matched when applying the pay rate. Leave at ‘N/A’ to apply the rule to all shifts.

 

Please contact an Insperity Time and Attendance Professional Services Representative to establish premium rules.