Cash out annual leave Sample Clauses

Cash out annual leave. By agreement between the employer and employee, an employee may have two weeks of his/her annual leave entitlement per annum paid rather than taking the actual leave. The Employee must have accrued the leave prior to any requests being made to the Employer. The Employer has the right to refuse to pay out leave on the basis of genuine operation requirements.
AutoNDA by SimpleDocs
Cash out annual leave. (a) Paid annual leave must not be cashed out except in accordance with an agreement under clause 7.1.9. (b) Each cashing out of a particular amount of paid annual leave must be the subject of a separate agreement under clause 7.1.9. (c) Upon written request by the employee, the employer and an employee may agree in writing to the cashing out of a particular amount of accrued paid annual leave by the employee. (d) An agreement under clause 7.1.9 must state: (i) the amount of leave to be cashed out and the payment to be made to the employee for it; and (ii) the date on which the payment is to be made. (e) An agreement under clause 7.1.9 must be signed by the employer and employee and, if the employee is under 18 years of age, by the employee’s parent or guardian. (f) The payment must not be less than the amount that would have been payable had the employee taken the leave at the time the payment is made. (g) An agreement must not result in the employee’s remaining accrued entitlement to paid annual leave being less than 4 weeks. (h) The maximum amount of accrued paid annual leave that may be cashed out in any period of 12 months is 2 weeks. (i) The employer must keep a copy of any agreement under clause 7.1.9 as an employee record.
Cash out annual leave. An employee will be entitled to cash out annual leave in accordance with the following: (a) To be eligible an employee must retain a minimum balance of 152 hours (4 weeks) of Annual Leave after the date of the cash out. (b) An employee will only be able to exercise this option by separate written Agreement between the Company and the employee on each occasion annual leave is to be cashed out and will be paid the full amount payable had they taken the annual leave.

Related to Cash out annual leave

  • Cashing out annual leave The employee may, with the agreement of the employer, request in writing, to cash out up to two weeks of their annual leave during each 12 month period. Annual leave cannot be cashed out in advance of it being credited to the employee. Cashed out annual leave will be paid at the rate of pay that the employee receives at the time when the request is made.

  • Taking annual leave (a) Any employee may take paid annual leave if sufficient annual leave has been credited to that employee and the employer has authorised the leave being taken.

  • Entitlement to Annual Leave For each year of service with the Employer a full-time or part-time Employee is entitled to four (4) weeks of paid annual leave.

  • Payment of Annual Leave Upon resignation, retirement, or dismissal of any employee in the bargaining unit, he/she shall receive a sum equal to the number of days of annual leave remaining to his/her credit, provided that any or all amounts may be applied to offset any amounts owed the state by the employee. In the event of death of an employee while in the bargaining unit, a sum equal to the number of days annual leave remaining shall be paid to his/her estate.

  • Sick Leave Annual Cash Out ‌ Each January, employees are eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: A. Their sick leave balance at the end of the previous calendar year exceeds four hundred and eighty (480) hours; B. The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred and eighty (480) hours; and C. They notify their payroll office by January 31st that they would like to convert their sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.

  • Annual Leave 17.1 An employee shall be entitled to four weeks annual leave for each twelve months’ service with the Company, exclusive of public holidays. Annual leave accumulates monthly on a pro rata basis. 17.2 The annual leave entitlement for each part time employee shall be calculated pro rata according to the ordinary hours he or she actually works. 17.3 The time of giving and taking of leave shall be by mutual arrangement between the Company and the employee concerned. 17.4 The Company may direct an employee to take annual leave during any shut down, including any such shut down over the Christmas and New Year period, provided the employee has an accrued annual leave balance that will at least cover the period of the shut down. 17.5 The Company may direct an employee to take up to a quarter of his or her total accrued annual leave entitlement if the employee’s accrued annual leave entitlement exceeds 8 weeks. 17.6 Payment for annual leave shall be made at the relevant minimum rate of pay in clause 19 – Minimum wages, plus a loading of 17.5 per cent on that rate of pay. 17.7 The Company may allow annual leave to be taken by an employee before the right thereto has accrued due. 17.8 An employee has no entitlement to the payment of the loading, when annual leave is taken wholly or partly in advance, until an entitlement accrues due and the loading is then payable in respect of the period of such leave and is calculated on the relevant minimum rate of pay in clause 19 – Minimum wages, payable at the accruing of the entitlement. 17.9 Where leave has been granted to an employee before the leave has accrued due, the Company may deduct the balance of the payment to the employee for that leave period from whatever remuneration is payable to him or her upon the cessation of employment. 17.10 An employee whose employment is terminated by the Company or who lawfully leaves the employment shall be entitled to a pro rata payment calculated on his or her relevant minimum rate of pay in clause 19 – Minimum wages, for the period in respect of which annual leave has not been taken, provided that the loading in clause 17.6 shall only be paid in respect of paid out annual leave for employees who have been employed for a minimum 12 months with the Company.

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.

  • Cashing out of Annual Leave (a) Paid Annual Leave must not be cashed out except in accordance with an agreement under clause 41.8. (b) Each cashing out of a particular amount of paid Annual Leave must be the subject of a separate agreement under clause 41.8. (c) The Employer and an Employee may agree in writing to the cashing out of a particular amount of accrued paid Annual Leave by the Employee. An agreement this clause must state: (i) the amount of Annual Leave to be cashed out and the payment to be made; and (ii) the date on which the payment is to be made. (d) An agreement under clause 41.8 must be signed by the Employer and Employee and, if the Employee is under 18 years of age, by the Employee’s parent or guardian. (e) The payment must not be less than the amount that would have been payable had the Employee taken the Annual Leave at the time the payment is made. (f) An agreement must not result in the Employee’s remaining accrued entitlement to paid Annual Leave being less than four (4) weeks. (g) The Employer must keep a copy of any agreement under clause 41.8 as an Employee record.

  • Loading on Annual Leave During a period of annual leave an Employee covered by this clause shall receive a loading of 22.5% calculated on the all-purpose rate of wage prescribed by Appendix A, clause 2.3 of this Agreement.

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!