How to calculate holiday pay

At the time of vacations many are trying to escape from the noisy dusty town close to the sea or just to a distant land. Before you write an application for leave, the employee raises the question about what the holiday will be accrued during the rest period.

As expected, output

The size of the benefits is directly linked to the income that you have received at this place of work during the 12 months preceding the beginning of the vacation period. However, this number go all the accrued bonuses and additional payments, accounted for the total number of days spent on sick leave and accruals during periods of illness.

Not taken into account social benefits, which is a financial assistance and payment lunch, travel documents.

The main point for the correct calculation of holiday pay is to calculate the average daily wage. To do this, there is even a special formula that represents the ratio of the total gross wages for the billing period, i.e. for the 12 months to the number of working days. However, if the employee has worked at this place for less than a year, the settlement period is taken to be actual hours worked.

In the ideal case, when the employee planning a vacation, worked every day for 12 months, in order to calculate the number of days worked must average number of calendar days equal to 29.4, multiplied by 12.

Starting from 2 April 2014, the ratio was equal to 29.3.

If some days were skipped, for example, during illness, then apply a special formula. Add up the number of days worked during those months that the employee is fully worked, with the number of days spent in incomplete months. Then you need the amount of waste for the partial month divided by the number of days in that month and multiplied by a factor of 29.4.

As a result of simple mathematical calculations it turns out the average daily wage. The amount of vacation equal to the product obtained daily wage and number of days of rest.

Vacation pay upon dismissal

In the case of dismissal of an employee from work for several days, he made the calculation, which amount included compensation for unused during the work days of vacation. Cash compensation for accrued leave of any separating employee, no matter what period of time he worked in the organization.

For the calculation of compensation calculation based on the date of admission of the employee and the date of his resignation. If the last month had worked out less than half of the days, it is not taken into account, and if half or more is rounded up to a full month.

The resulting number of months worked multiplied by 2,33 and get the number of days for which necessary monetary compensation. Further, the amount of monetary compensation is considered as vacation pay during the leave.