How To Calculate Vacation Payments In

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How To Calculate Vacation Payments In
How To Calculate Vacation Payments In

Video: How To Calculate Vacation Payments In

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Video: Vacation Pay In BC - What You Need to Know 2023, January
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Vacation payments are made annually to each employee working under an employment contract. The minimum leave is 28 calendar days. During rest, the employee retains his job and is paid the average salary, which should be calculated in accordance with Government Decree No. 922.

How to calculate vacation payments
How to calculate vacation payments

Instructions

Step 1

The average salary is calculated from the total amount of earnings in the 12 months preceding the vacation. The total amount of the calculation includes all funds received from which income tax was withheld. The amounts received for social benefits are not included in the calculation. The total should be divided by the number of working days in the given billing year. Regardless of whether an employee works on a five-day week or six-day, working days are counted on a six-day work week. The result is multiplied by the number of vacation days.

Step 2

If the employee has not fully worked out the calculation period, there are certificates of incapacity for work, then all the amounts earned on which taxes were charged must be added, divided by 12 and by the average number of calendar days in a month, by 29, 4. The result obtained is multiplied by the number of vacation days.

Step 3

Any employee has the right to take another paid vacation, having worked at the enterprise for 6 months. In this case, payments will depend on whether the employee had a certificate of incapacity for work or worked the entire working period in full. If the entire billing period has been worked out in full, then all the amounts earned are added up and divided by the number of working days in the billing period, which should be counted in a six-day working week. If for 6 months there were certificates of incapacity for work, then you need to add up the amounts received from which the tax was withheld, divided by 6 and divided by 29, 4. The result obtained is multiplied by the number of vacation days. An employer can provide an employee who has worked for 6 months on vacation for the entire year. If an employee leaves without completing the allotted time, then the overpaid vacation days must be deducted from the calculation amount.

Step 4

Vacation payments, according to labor law, must be made three days before the vacation. The next salary is not tied to vacation payments, so it can be issued in due time.

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