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How is vacation pay calculated?
How is vacation pay calculated?
During the employee’s leave period, their job position and role are retained, and in cases предусмотрed by the Labor Code, they are paid an average salary not less than their last salary.
The last salary refers to the salary specified in the employment contract effective at the time the employee goes on leave.
The average salary paid for the leave period is determined based on the average salary of the 12 calendar months preceding the month in which the leave is granted, regardless of the work year it relates to.
(If during those months the employee was partially on paid social leave, on unpaid leave not at their own initiative, or did not work or did not fully work due to reasons beyond their control, those months are replaced with the nearest fully worked calendar months.)
The average salary for the 12 calendar months is calculated by dividing the total salary for those months by 12.
The resulting amount is divided by the average number of calendar days in a month — 30.4 — to determine the daily wage. This amount is then multiplied by the number of leave days.
The calculated leave pay is then compared with the salary corresponding to the working days falling within the leave period.
If the calculated amount exceeds the employee’s last salary, it is paid in full; if it is lower, it is adjusted up to the level of the last salary and paid to the employee.
During the employee’s leave period, their job position and role are retained, and in cases предусмотрed by the Labor Code, they are paid an average salary not less than their last salary.
The last salary refers to the salary specified in the employment contract effective at the time the employee goes on leave.
The average salary paid for the leave period is determined based on the average salary of the 12 calendar months preceding the month in which the leave is granted, regardless of the work year it relates to.
(If during those months the employee was partially on paid social leave, on unpaid leave not at their own initiative, or did not work or did not fully work due to reasons beyond their control, those months are replaced with the nearest fully worked calendar months.)
The average salary for the 12 calendar months is calculated by dividing the total salary for those months by 12.
The resulting amount is divided by the average number of calendar days in a month — 30.4 — to determine the daily wage. This amount is then multiplied by the number of leave days.
The calculated leave pay is then compared with the salary corresponding to the working days falling within the leave period.
If the calculated amount exceeds the employee’s last salary, it is paid in full; if it is lower, it is adjusted up to the level of the last salary and paid to the employee.