Oracle Fast Formulas - Chapter 43: Fast Formula for Attendance-Based Bonus Calculation

 Chapter 43: Fast Formula for Attendance-Based Bonus Calculation


Overview:

This formula calculates a bonus based on an employee’s attendance, often used in manufacturing and service sectors. The bonus is awarded only if the employee maintains a minimum threshold of present days in a given month.

Business Logic:

  • If attendance days ≥ threshold, bonus is applied.

  • Else, no bonus is given.

Inputs Required:

  • ATTENDANCE_DAYS: Number of days present

  • BONUS_AMOUNT: Fixed or variable amount

  • THRESHOLD_DAYS: Minimum days required for bonus eligibility

Sample Formula:


DEFAULT FOR ATTENDANCE_DAYS IS 0
DEFAULT FOR BONUS_AMOUNT IS 0
DEFAULT FOR THRESHOLD_DAYS IS 0

INPUTS ARE ATTENDANCE_DAYS, BONUS_AMOUNT, THRESHOLD_DAYS

IF ATTENDANCE_DAYS >= THRESHOLD_DAYS THEN
  BONUS = BONUS_AMOUNT
ELSE
  BONUS = 0
ENDIF

RETURN BONUS

Use Case Example:

  • Employees with ≥ 26 working days in a 30-day month receive a ₹1000 bonus.

Best Practices:

  • Pull attendance from Oracle Time and Labor (OTL) or external interface.

  • Keep thresholds configurable via element inputs or user-defined tables.

Practice Quiz:

  1. What happens if an employee does not meet the threshold days?

  2. Can the threshold be customized per department?

  3. How to link OTL data to this formula?


No comments:

Post a Comment

Subscribe to: Post Comments (Atom)