As a rule, annually workers and employees enjoy the right of paid leave under this labor legislation. At the same time, the accounting department of the employing enterprise issues vacation pay in advance. However, few people can figure it out themselves and calculate the amount due to pay for the annual legal leave.
In the matter of calculating the amount of vacation pay, many are accustomed to relying on the knowledge and experience of accountants who actually deal with this procedure. Even if the competence of an accountant is difficult to question, it will not hurt anyone to get up to speed and personally understand the process of calculating "hard-earned" money. In addition, this can help not only to avoid various errors in the accrual process, but also makes it possible to correctly plan the budget for the upcoming event.
Time relax
Any person who has been on the staff of the employing company for at least half a calendar year has the right to rest. The period allotted for vacation is on average 28 days, but other options are also acceptable, for example, an increase in the duration of rest due to harmful working conditions, irregular days, etc. Such information must be clarified with the director or chief accountant, and, moreover, is not published open an employment contract, where such subtleties are spelled out.
Calculation of vacation pay
The accrual of vacation pay is made by an accountant, it is based on the employee's average annual earnings and the actual period of his activity. These two elements determine the future amount of vacation pay in monetary terms.
Vacation pay, at the request of the employee, can compensate for unused vacation.
From the outside it may appear that the settlement period is a permanent value, and its determination does not cause any particular difficulties. In fact, the average earnings are calculated for all the past 12 months of the year, during which various events and changes could occur, for example, an employee could be sick, take unpaid days or not work for other reasons of a production nature. All this determines the calculation and naturally affects the accrual.
Average earnings - there is the sum of payments for the entire past year, which does not include various bonuses, lifting and any social benefits, it is it that is divided by 12 months, as well as the average number of days in a month, 29, 4. The number resulting from the division is multiplied by days set aside for rest - this is the calculation formula used in organizations.
If an employee wants to take a vacation after six months, then only these six months must be taken into account. The billing period implies the exclusion of only the days in which the employee was on sick leave, the days of his absence due to the fault of the management or any force majeure circumstances. Holidays are also included in the calculation period.
As a general rule, vacation pay must be accrued no later than 2 weeks before the start of the vacation and paid no later than the last working day.
If, during the billing period or the vacation itself, unexpected changes occurred in the organization, for example, related to an increase in salaries, which also affected your position, then the average earnings should be indexed, and the remaining amount of vacation pay should be calculated and paid additionally.
