The actual amount payable to a part-timer is determined on a pro rata basis. His salary will be adjusted automatically since he will be paid pro rata, on a daily basis, for the work he does. That means getting up steam for half a day’s work, and would require more than a pro rata increase in coal.

What is pro rata ratio?

Pro rata is a Latin term used to describe a proportionate allocation. It essentially translates to “in proportion,” which means a process where whatever is being allocated will be distributed in equal portions.

What do you mean by pro-rata issue of share?

Pro-rata allotment refers to the allotment of shares in proportion of the shares applied for. When a company makes pro-rata allotment, it adjusts the excess money received at the time of application firstly, towards the allotment and then towards calls. … It receives applications for 20000 shares.

What is pro-rata basis example?

What is Pro Rata? The term “pro rata” comes from the Latin word for ‘proportional’. … For example, you’re working 25 hours a week on a pro rata basis. One of your colleagues is working full time, on a 40 hour contract. Both your jobs are advertised as paying £30,000 per annum, but yours is calculated pro rata.

What does pro rata mean in teaching?

Pro rata is the latin for ‘proportionally’ or a ‘proportion of’. It means that the salary quoted is what a full timer would receive for the same job. Your salary will be calculated according to what proportion of a full-time job your hours make up.

What rata means?

1 : a tree of the genus Metrosideros especially : either of two New Zealand timber trees (M. robusta and M. lucida) 2 : the hard dark red wood of a rata tree used by the Maoris for paddles and war clubs.

How does pro rata leave work?

Annual leave is accrued on a pro-rata basis. This means that if you work half a year, you will be entitled to half your annual leave. Some awards, enterprise agreements or contracts of employment provide for more than four weeks annual leave.

Is it pro rata or prorated?

Pro rata is a Latin term – meaning “in proportion” – that is used to assign or allocate value in proportion to something that can accurately and definitively be measured or calculated. In North American countries, pro rata is often referred to or referenced as “prorated.

What is pro rata refund?

A pro rata cancellation is a full refund of any unearned premiums. … For example, if an insured pays a premium of $12,000 for the year, but the policy is cancelled after 6 months on a pro-rata basis, the insurer returns $6000 to the insured—50% of the policy remaining means 50% of the premium is refunded.

What is opposite of pro rata?

▲ Opposite of to divide proportionately. misallocate. combine. join.

What does it mean if something is prorated?

Prorated definition

Essentially, if you use something for less time than you’re scheduled to use it for, it’s fair to expect that you’ll only be charged for the time you used. That’s essentially what we mean by a prorated charge, or prorated amount.

What is the meaning of prorated?

: divided, distributed, or assessed proportionately (as to reflect an amount of time that is less than the full amount included in an initial arrangement) The catch is that the Dolphins can get back the prorated portion of the $5 million if Madison defaults on the contract.—

Are teachers paid pro rata?

These staff usually are paid for only the weeks they work, plus their statutory leave entitlement. They end up on a “pro rata” salary, even if they work full-time hours during their working weeks.

Is FTE the same as pro rata?

Full-time equivalent (FTE) allows part-time workers’ working hours to be standardised against those working full-time. … A related term is pro-rata – part time employees are paid an annual salary pro rata, which means adjusted for their working hours. FTE is sometimes referred to as work-year equivalent (WYE).

How do I calculate pro rata salary?

How to calculate pro rata salary

1. Divide the full-time annual salary by 52 (number of weeks)
2. Divide the result by 40 (standard full-time weekly hours) to get the hourly rate.
3. Multiply the hourly rate by the number of actual work hours per week.
4. Multiply this by 52 to get the annual pro rata salary.

How do you calculate pro rata basis?

Physics and Chemistry have 60% theory component and 40% practical marks. Pro rata marks in physics = 88.33% Pro rata marks in chemistry = 89.92% Therefore, Total marks in PCM are: 88.33+89.92+95=273.25=91.08% and PCME are: 88.3+89.92+95+90 = 363.25 = 90.81%.

What is difference between share and debenture?

Share is the capital of the company, but Debenture is the debt of the company. The shares represent ownership of the shareholders in the company. On the other hand, debentures represent indebtedness of the company. The income earned on shares is the dividend, but the income earned on debentures is interest.

What is call in arrears?

Call in Arrear

The company calls for money from shareholders when needed within a certain period. If the shareholder is not able to pay the call amount due on an allotment or on any calls according to the terms before or on the specific date fixed for payment, such amount is taken as ‘call in arrears’.

What does pro rata mean in medical terms?

adjective, adverb In proportion, partial.

What does pro rata insurance mean?

The term “pro rata” is used to describe a proportionate distribution, often involving a partial or incomplete status of payment due. … In the insurance industry, pro rata means that claims are only paid out in proportion to the insurance interest in the asset; this is also known as the first condition of average.

What does Proation mean?

To divide, distribute, or assess proportionately. To settle affairs on the basis of proportional distribution. pro·rat′a·ble adj. pro·ra′tion n.