Accrued Sick Time Formula:
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Accrued sick time refers to the amount of paid sick leave an employee has earned based on their length of employment and the company's sick leave policy. It's typically calculated by multiplying the number of months worked by the monthly accrual rate.
The calculator uses the simple formula:
Where:
Explanation: This calculation provides the total sick time hours an employee has accumulated based on their employment duration and company policy.
Details: Proper sick time tracking ensures employees know their available benefits and helps employers maintain accurate records for payroll and compliance purposes.
Tips: Enter the total months worked (can include partial months) and your monthly sick time accrual rate. Both values must be positive numbers.
Q1: What if my accrual rate changes over time?
A: For variable rates, calculate each period separately and sum the results.
Q2: How are partial months calculated?
A: Enter fractional months (e.g., 3.5 for 3 months and 2 weeks) for precise calculations.
Q3: Does this account for used sick time?
A: No, this calculates total accrued time. Subtract used hours separately to find remaining balance.
Q4: What's a typical monthly accrual rate?
A: Rates vary by company but often range from 4-8 hours per month (0.5-1 day per month).
Q5: Can this be used for other types of accruals?
A: Yes, the same formula works for vacation time or other benefits that accrue monthly.