A pro rata clause in an automobile insurance policy provides that when an insured person has other insurance policies covering the same type of risk, the company issuing the policy with the pro rata clause will be liable only for a proportion of the loss represented by the ratio between its policy limit and the total limits of all the available insurance. "Pro rata" essentially means the employee receives a proportion of the salary that a full- time worker gets for the same position. Employers should exercise caution when deciding to pay a pro rata salary because this is not always appropriate. Salaried personnel are classified as either exempt or non-exempt Definition of pro rata: Proportionate allocation or distribution of a quantity (such as costs, income, shares, taxes) on the basis of a common factor. For example, profit is generally divided among several stockholders Pro rata condition of average relates to the proportion of an asset that an insurance policy covers. A claim will only be paid out on an asset based on the insurable interest that the policy covers, so a 50% covered asset will only be paid up to 50%. The criteria could any number of things, including ownership shares, days or hours worked during a pay period, or miles driven for a specific purpose. Divide the portion you want to calculate by the total, and then multiply the resulting decimal by the amount you want to calculate the pro rata share of. When a college student withdraws, colleges may refund tuition payments on a pro rata basis. Aviation. In the United States, a private pilot may pay no less than the pro rata share of the total price of the flight when carrying passengers. See also Pro Rata Payment means (a) if the payment to such Subscriber is made in cash, the amount of cash that such Subscriber would have received had such Subscriber invested an amount equal to its Purchase Price in such Subsequent Financing (the “Payment Amount”) or (b) if the payment to such Subscriber is made in restricted shares of the Company’s common stock, then an amount determined by
is greater than the amount available to withhold, the employer must remit payments for all Income Withholding Orders on a pro rata basis (IC 31-16-15-17).
pro rata. prorata [ˌprəʊˈrɑːtə ]. adverb. au prorata. adjective. [payment] au prorata. on a pro rata basis au prorata. Copyright © by HarperCollins Publishers. 9 Dec 2019 option to reduce their PF contribution, resulting in higher take-home pay. contract workers will be eligible for gratuity on a pro rata basis. Employers can use this pro rata annual leave calculator to work out holiday entitlement for according to the number of hours or time they work, i.e. on a pro rata basis. Employers will need to pay for untaken statutory leave for employees. means the Membership Fees payable under the Advance Payment Membership. the customer shall be entitled to a pro-rata refund of their membership fees in
Pro rata condition of average relates to the proportion of an asset that an insurance policy covers. A claim will only be paid out on an asset based on the insurable interest that the policy covers, so a 50% covered asset will only be paid up to 50%.
"Pro rata" essentially means the employee receives a proportion of the salary that a full- time worker gets for the same position. Employers should exercise caution when deciding to pay a pro rata salary because this is not always appropriate. Salaried personnel are classified as either exempt or non-exempt Definition of pro rata: Proportionate allocation or distribution of a quantity (such as costs, income, shares, taxes) on the basis of a common factor. For example, profit is generally divided among several stockholders Pro rata condition of average relates to the proportion of an asset that an insurance policy covers. A claim will only be paid out on an asset based on the insurable interest that the policy covers, so a 50% covered asset will only be paid up to 50%.
The workers' overtime is calculated on pro rata basis. prior to the end of the period for which payment has been given, a pro rata return of the payment is made
Employers can use this pro rata annual leave calculator to work out holiday entitlement for according to the number of hours or time they work, i.e. on a pro rata basis. Employers will need to pay for untaken statutory leave for employees. means the Membership Fees payable under the Advance Payment Membership. the customer shall be entitled to a pro-rata refund of their membership fees in
Many translated example sentences containing "on a pro rata basis" users the funds of such payment service users on a pro rata basis according to their
26 Jun 2019 If something is given out to people on a pro rata basis, it means assigning for pro rata calculations are to determine dividend payments due to Definition of Pro Rata Basis in the Financial Dictionary - by Free online English On redemption, Chorus will pay to the holders of the redeemed debentures the Examples of pro rata being used include the division of a loan payment being adjusted monthly. The total amount paid by the borrower against the loan is the