How To Calculate Vacation Compensation Upon Dismissal

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How To Calculate Vacation Compensation Upon Dismissal
How To Calculate Vacation Compensation Upon Dismissal

Video: How To Calculate Vacation Compensation Upon Dismissal

Video: How To Calculate Vacation Compensation Upon Dismissal
Video: Lesson 5.4 Calculating Paid Vacation Days 2024, November
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According to article 127 of the Labor Code of the Russian Federation, an employee subject to dismissal is provided with monetary compensation for all unused leave during the period of work in this organization. Absenteeism is an exception. Compensation is paid on the day the employee is dismissed. In this case, the former employee can independently calculate the amount of compensation.

How to calculate vacation compensation upon dismissal
How to calculate vacation compensation upon dismissal

It is necessary

data on average monthly salary, calculator

Instructions

Step 1

Calculate the number of vacation days for which you are entitled to compensation. Start on your first day at the organization and finish on the last. If an employee has worked, for example, 8 full months and 17 days (when the number of the latter is more than half a month, it is rounded up to one month), then compensation is calculated based on 9 months using the formula: 28/12 x 9 = 21. In this case 28 - the number of calendar days, 12 - calendar months, 9 - the number of months worked for the billing period.

Step 2

Calculate your average daily earnings. If an employee has not worked for one or several months fully, count the number of calendar days in them using the formula: 29.4 / (calendar days in a month not worked x the number of working days of them), where 29.4 is the average monthly number of calendar days. In our case: 29.4 / (17 x 11) = 0.15.

Step 3

Substitute the data obtained in the following formula: average daily salary = average monthly salary / (8 x 29.4 x 0.15), where 8 - fully worked months; 29, 4 - average monthly number of calendar days; 0, 15 - the number of calendar days in incompletely worked months (see step 2).

Step 4

According to the website Tax accounting for your business, the amount of compensation for unused vacation is multiplied by the average daily salary (step 3) and the number of days for which compensation is due (step 1).

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