Calculating the accrued balance for an employee for the current year up to the present date.

Calculation method for the accrued balance for an employee for the current year up to the present date:

The accrued balance is determined by multiplying the daily accrued balance by the number of working days from the first day of the current year to the present date.

• Example 1: An employee started work on February 1, 2025, with an annual entitlement of 21 days for the year 2025.

=> Number of working days in the current year = 34 working days up to February 3, 2025.

=> 21 ÷ 365 = 0.0575342 (daily accrued balance)

=> Daily accrued balance (0.0575342) * number of working days (34) = 1.956 days

• Example 2: An employee started work on February 1, 2025, with an annual entitlement of 30 days for the year 2022.

=> Number of working days in the current year = 34 working days up to February 3, 2025.

=> 30 ÷ 365 = 0.0821917 (daily accrued balance)

=> Daily accrued balance (0.0821917) * number of working days (34) = 2.794 days

Note:

• If the employee was employed in previous years and has a carried-over balance from the previous year, it should be added to the accrued balance up to the present date. Any used leave balances in the current year should be deducted from the accrued balance up to the present date.

Example: What is the accrued balance up to February 3, 2025, for an employee with an annual leave entitlement of 30 days, and has a carried-over balance of 6.36 days from the year 2024?

Accrued balance for the year 2025 up to February 3, 2025 = 2.794 days (34 working days)

Since there is an unused carried-over balance from the previous year 2021 = 6.36 days (based on the policy of carrying over the entire balance)

=> Total accrued balance up to February 3, 2025 = 2.794 + 6.36 = 9.16 days