Maternity Pay Formula:
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Definition: This calculator estimates the total maternity pay based on salary, percentage of salary paid during leave, and duration of leave.
Purpose: It helps expecting parents and HR professionals calculate maternity benefits for financial planning.
The calculator uses the formula:
Where:
Explanation: The salary is multiplied by the percentage (converted to decimal) and then by the duration to calculate total maternity pay.
Details: Accurate maternity pay calculation ensures proper financial planning during leave and compliance with employment laws.
Tips: Enter your regular salary, the percentage of salary paid during maternity leave, and the duration of leave in weeks. All values must be > 0.
Q1: What percentage is typically paid during maternity leave?
A: This varies by country and employer, but common percentages range from 50% to 100% of salary.
Q2: Should I use gross or net salary for calculations?
A: Typically use gross salary unless your maternity pay is based on net salary after taxes.
Q3: How do I account for partial weeks of leave?
A: You can enter decimal values for duration (e.g., 12.5 weeks for 12 weeks and 3 days).
Q4: Does this calculator account for different pay rates during leave?
A: No, it assumes a constant percentage. For variable rates, calculate each period separately.
Q5: How does this differ from paternity pay calculations?
A: The formula is similar, but duration and percentage rates may differ based on local policies.