When calculating the amount of vacation pay, the accountant is guided by the Decree of the Government of the Russian Federation No. 922 dated 12.24.2007. For this, a special algorithm is used to take into account all types of payments that the employee received in the billing period.
What payments are due to an employee who goes on vacation
According to the Labor Law, all employees are entitled to an annual paid leave of 28 calendar days. When calculating vacation pay, a special scheme is used, which is useful not only for an accountant, but also for an interested person - an employee. The calculation is based on the average daily earnings for the billing period for which vacation pay is calculated - 12 months, if during this period the employee worked at the enterprise. The amount received is divided by the average monthly number of calendar days in a year - this indicator is taken as a number equal to 29, 4.
However, in the case when an employee did not have time to work at the enterprise for the whole year, vacation pay is calculated according to a different scheme. In this case, the number of months worked should be multiplied by 29, 4 and work days in the not fully worked months should be added. Accrued wages should be divided by this number. The resulting amount is the average daily earnings. Then the amount received should be multiplied by the number of vacation days. The result should be the amount of vacation payments, from which the accountant is obliged to withhold income tax of 13%. The remaining amount must be handed over to the employee on the first day of the vacation.
How to count bonuses in calculating vacation pay
Bonuses are also paid from the wage fund and must participate in the calculation of vacation pay. However, it is carried out according to a different scheme than the calculation of the average daily earnings and is also calculated separately. The fact is that there are several types of premiums: monthly, quarterly and annual. They participate in the calculation of vacation pay only if the bonus period coincided with the calculated one.
If these periods overlap partially, the accountant should take into account the bonuses in proportion to the time worked by the employee in the billing period. In this case, not the entire bonus is taken into account, but only that part of it that will correspond to the number of hours worked in the billing period. A fixed incentive is also accounted for according to hours worked. The annual premium is taken into account only if the period of its payment coincides with the calculated one, otherwise it is carried over to the next settlement period.
In the calculation of vacation payments, only those bonuses are taken that are provided for by the provisions on remuneration of employees of the organization and are taken into account in the expenses of the enterprise in the payroll. One-time bonuses paid from third-party sources are not included in the calculation of vacation pay. Such payments may include incentive bonuses paid for overfulfillment of the plan, various developments, etc. The calculated amount is added to the principal amount of vacation pay and NLFL is withheld from the entire amount of accruals.
There are many online services that allow an employee to calculate the estimated amount of vacation payments and understand how much he can expect when going on vacation.
