How To Calculate Vacation Pay

Table of contents:

How To Calculate Vacation Pay
How To Calculate Vacation Pay

Video: How To Calculate Vacation Pay

Video: How To Calculate Vacation Pay
Video: Lesson 5.4 Calculating Paid Vacation Days 2024, December
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In order to properly plan your vacation on vacation days, it does not hurt to calculate your own vacation pay in advance. An accountant will do this professionally, but your own calculations will help you understand in advance what expenses for the vacation period can be allowed, and at the same time you will control the calculations of your own employer.

How to calculate vacation pay
How to calculate vacation pay

It is necessary

pen, paper

Instructions

Step 1

Determine when exactly you can take a vacation and how many days of rest you are entitled to according to the law. According to the Labor Code of the Russian Federation, annual paid leave lasts 28 calendar days and can be provided 6 months after you have found a job at a new job. Calendar days include weekends, but not holidays. There are a number of special categories of workers who are entitled to additional vacation days.

Step 2

Next, calculate your average earnings. It should be considered taking into account the wages for the last 12 full months before the vacation. When calculating, take into account all income, that is, salaries, bonuses, fees, etc. But at the same time, sick leave, vacation pay, material assistance are not taken into account. The amount that you received as a result must be divided by the number of days you actually worked during the billing period. The amount received is the cost of one day of vacation. Please note that if you have worked at the enterprise for less than a year, then vacation pay should be calculated by the number of actually worked months.

Step 3

If there are planned increases in wages in the billing period, the amount of income must be multiplied by the coefficient calculated in advance, which is equal to the ratio of the amount of the new wage to the old one. The coefficient is calculated by dividing the amount of the new salary by the amount of the old salary.

Step 4

To find out the final amount of vacation pay, multiply the cost of one day of vacation by the total number of calendar days of your vacation.

Step 5

Please note that according to the law, vacation pay should not be paid later than three days before the first day of your vacation. In case of non-fulfillment of this norm, the employee receives the right to transfer the vacation to any other period chosen by him.

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