Rate Definition Overview

Use HCM Data Loader to create rate definitions, such as compensation rates, element entry values, or rates based on values defined by criteria.

You can use rates to calculate payments that are based on different frequencies, such as hourly rates or annual rates. You can also define rates that are paid based on a number of units, such as meal allowance or mileage rates.

If the rate is based on multiple balance or element entries, or if it references other rate definitions, you can specify multiple rate contributors.

Categories

You can create a rate definition of one of these categories type:

Category	Used To
Derived Rate	Define rates based on values from one or more payroll balances or other rate definitions. Use this option to create a rate that retrieves a value from one or more rate contributors.
Element	Retrieve a value from or posts to an element input value. Note: Hours * Rates elements aren't supported. You can create a flat amount element to capture the hourly value. You can then use an element rates to calculate a rate stored on an hourly values for the employee, such as salary.
Formula	Define rates based on Fast Formula. Let's consider an example where an employee can work in a job at a higher grade than their normal job. The rate paid to that employee is based on different criteria and includes rules, such as the minimum rate must be at least 1.00. You can use a formula to step up the grade to the next level and to return the rate assigned to that higher grade. Note: Use this category for rate calculations in the payroll run. It isn't suitable for other types of rates such as salary rates or rates displayed on a time card.
Grade Rate	Calculate rates based on employee's grade details. For example, you can calculate the annual salary rate based on the grade ladder, grade, and grade step information defined for an employee.
Value by Criteria	Specify one or more evaluation conditions that determine a particular value or rate. For example, you define a value defined by criteria to capture car allowance, housing allowance and market supplement values based on an employee's job.