How to calculate payment for unused annual leave?
How is the paid annual leave that the employee is entitled to use but does not use calculated? If the employee’s employment contract is terminated, how is the rate for unused annual leave calculated?
HOW IS THE RATE FOR UNUSED ANNUAL VACATION CALCULATED?
To calculate the number of days of leave that are entitled to be used but have not been used; It is calculated by multiplying the employee’s gross daily wage on the date of termination of employment by the number of unused leave days. From this amount, the necessary deductions are made and the amount received by the worker is obtained.
In the event of termination of the employee’s employment contract, the salary for annual leave earned and unused by the insured employee is included in the earnings for the month on the date of termination of the employment contract.
WHAT RIGHTS ARE REALIZED WITH ANNUAL VACATION PAYMENT?
The annual leave rate, which is calculated based on the gross salary, undergoes some deductions before reaching the employee.
These cuts;
– Income tax
– Stamp duty
– Deductions are made by Social Security Institutions. The employee receives the net amount after these deductions.
IN WHAT CASES IS ANNUAL VACATION FEE NOT GIVEN?
An employee whose employment contract is terminated, either voluntarily or by his or her employer, may receive money for earned but unused annual leave under any circumstances.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
