Incorrect earned leave allocation

I am trying to create and allocate ‘Privilege Leave’ for our company. But the allocated leave is incorrect, when using Leave Policy Assignment.

First of all, I tried creating the ‘Privilege Leave’ type, with the following settings

Then, I created a Leave Period of 2022 from Jan 1 to Dec 31.

Afterwards, I created a Leave Policy with 12 Privilege Leave allocated per year.

The newly created Leave Policy was then assigned to an employee.

This allocated 48 Privilege Leaves to the employee.

I expected 12 privilege leaves to be allocated, since the employee has been with us for more than 1 year. If I apply the leave policy for a new employee who joined this year, the 24 leaves are allocated.

Leave Policy

Leave Policy Assignment

Leaves Allocated

Good day,
were you able to find the reason?
I think it has something to do with Joining date of the employee?