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Usually, for Monthly Pay Employee, the daily rate is depending on Daily Salary based on and the hourly rate is calculated from the daily rate.
1. For global working hours employee,
Hourly Rate = Daily Rate / Daily working hours
Where Daily working hours is defined in Work Hours Type
2. For roster employee,
Hourly rate = Daily rate / (Total Number of Working Hours/ Total Number of Normal Days)
See also
[CurrentMonthHourlyRate] in User Defined Formula
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