The formula to calculate the Rounded Time (RT) is:
\[ RT = \left( \frac{M + 7}{15} \right) \times 15 \]
Where:
The 7 Minute Rule is a timekeeping method often used in workplaces for payroll purposes. It is used to round an employee's arrival and departure times to the nearest quarter of an hour. For example, if an employee clocks in at 8:07, their time would be rounded to 8:00; if they clock in at 8:08, it would be rounded to 8:15. The same rule applies for clocking out. This method is used to simplify payroll calculations and is considered legal as long as it is used consistently and fairly for all employees.
Let's assume the following value:
Using the formula to calculate the Rounded Time:
\[ RT = \left( \frac{7 + 7}{15} \right) \times 15 = 15 \text{ minutes} \]
The Rounded Time is 15 minutes.
