How To Calculate Vacation Pay For A Year

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How To Calculate Vacation Pay For A Year
How To Calculate Vacation Pay For A Year

Video: How To Calculate Vacation Pay For A Year

Video: How To Calculate Vacation Pay For A Year
Video: Lesson 5.4 Calculating Paid Vacation Days 2024, April
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Before the start of the next vacation, the employee is required to pay vacation pay. The amount of vacation pay depends on the employee's earnings over the past 12 months. Paid for all calendar days of vacation (working and weekend), except for non-working holidays.

How to calculate vacation pay for a year
How to calculate vacation pay for a year

Necessary

Pay slips for the year preceding the vacation

Instructions

Step 1

Calculate your actual earnings for the previous 12 months. If an employee goes on vacation in June 2011, earnings for the period from 01.06.2010 are summed up. on 2011-31-05. Include in the accrued salary all types of remuneration, bonuses, allowances and additional payments for special working conditions. Exclude sick pay, material assistance, downtime, travel compensation, etc. from earnings.

Step 2

Divide the received amount by 12, you get the average monthly salary. Then divide it by a factor of 29.4 (the average number of calendar days in a month), we get the average daily earnings.

Step 3

If the month is not fully worked, for example, the employee was on sick leave, this time is excluded. Calculate the number of calendar days in an incomplete month. For example, in the year under review, sick leave was 10 days in July 2010.

29, 4 - 31k days

x-21days

That is, the ratio of days worked in July 2010. will be: 21x29, 4/31 = 19, 91.

Step 4

The formula for calculating vacation pay is as follows:

in the numerator is the salary for 12 months, in the denominator is 29, 4x11 + 19, 91

Step 5

Multiply the average daily earnings by the number of vacation days.

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