When To Pay Vacation Pay

When To Pay Vacation Pay
When To Pay Vacation Pay

Video: When To Pay Vacation Pay

Video: When To Pay Vacation Pay
Video: Vacation Pay 2024, December
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Every employee working under an employment contract is entitled to an annual paid leave of 28 calendar days. He acquires this right after six months of continuous service, but leave can be granted earlier - with the agreement of both parties.

When to pay vacation pay
When to pay vacation pay

According to the Labor Code, employees are paid leave based on average earnings and length of service. The duration of the prescribed rest for one calendar year is 28 days. This number can be increased in some cases, which are also spelled out in the normative act, for example, when working with harmful and dangerous working conditions or when working in the Far North.

When calculating the length of leave, absenteeism for no good reason is deducted from the total number, the time to take care of the vacation. When calculating average earnings, subtract material assistance, sick leave payments and vacation pay from the total amount.

As a rule, the employer must inform the employee about the vacation two weeks before it starts. The leave must be paid no later than three days before leaving for the prescribed rest. Income tax must be paid to the budget from the amount of vacation pay - 13%, which is taken into account in the period when the employee went on vacation.

If vacation pay is not issued on time, the employee has the right to demand that the vacation be postponed to any other time. If he does not want this, then it is worth contacting the labor inspectorate and write a statement with a complaint. The manager will be forced to pay a fine, and he will also be obliged to pay you vacation pay and interest for non-payment, which are calculated based on the refinancing rate of the Central Bank of Russia (1/300 part).

If the employee waives the leave entitlement, you must compensate him for the entire unused vacation. It is also calculated based on seniority and average earnings. The amount of compensation is paid after receiving the application from the employee. Also, this payment is paid upon dismissal of the employee, in this case, the funds are issued on the last day of work.

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