Cashing Out of Paid Annual Leave Sample Clauses

Cashing Out of Paid Annual Leave. 7.1.7.1 An Employee may apply to cash out Their annual leave at any time subject to the following: (a) paid annual leave must not be cashed out if the cashing out would result in the Employee’s remaining accrued entitlement to paid annual leave being less than the equivalent of four (4) weeks leave; and (b) Each cashing out of a particular amount of paid annual leave must be made by a separate agreement in writing between the Employer and the Employee; and (c) The Employee shall be paid at least the full amount that would have been payable to the Employee had the Employee taken the leave that the Employee has cashed out, and (d) The authority to approve a cash out is the Employer’s. 7.1.7.2 An Employee’s accrued entitlement to annual leave will reduce by the amount of leave cashed out.
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Cashing Out of Paid Annual Leave. 38.7.1 On and from the introduction of the NES an Employee may apply to cash out. Their annual leave at any time subject to the following: (a) paid annual leave must not be cashed out if the cashing out would result in the Employee’s remaining accrued entitlement to paid annual leave being less than the equivalent of four (4) weeks leave; and (b) each cashing out of a particular amount of paid annual leave must be made by a separate agreement in writing between the Employer and the Employee; and (c) the Employee shall be paid at least the full amount that would have been payable to the Employee had the Employee taken the leave that the Employee has cashed out, and (d) the authority to approve a cash out is the Employer’s. 38.7.2 An Employee’s accrued entitlement to annual leave will reduce by the amount of leave cashed out. 38.7.3 Subject to the obligations in 38.7.1, an individual employee that meets the requirement to qualify for an additional weeks Annual Leave as per clause 38.2.1, may request and with the consent of the employer, cash out their additional weeks Annual Leave.
Sample 1
Cashing Out of Paid Annual Leave. An employee may elect to cash out Annual Leave provided: (1) The employee has taken a period of paid leave in the preceding 12 month period in accordance with Clause 43 (1) of this Agreement. (2) After the cashing out of any period of paid Annual Leave the employee’s remaining accrued entitlement to paid Annual Leave is no less than four (4) weeks. (3) Each cashing out of a particular amount of paid Annual Leave must be by a separate agreement in writing between the employer and the employee. (4) The employee must be paid at least the full amount that would have been payable to the employee had the employee taken the leave that the employee has forgone.
Sample 1

Related to Cashing Out of Paid 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Accrual of Annual Leave (a) An employee shall accrue an amount of paid annual leave, for each completed 4 week period of continuous service with the employer, of 1/13 of the number of ordinary hours worked by the employee for the employer during that 4 week period. (b) Annual leave shall accrue on a pro-rata basis and be credited to the employee monthly.

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Taking of Annual Leave (a) An employee is entitled to take an amount of annual leave during a particular period if: (i) at least that amount of annual leave is credited to the employee; and (ii) the employer has authorised the employee to take the annual leave during that period. (b) In the taking of leave, the employee shall make written application to the employer, giving timely notice of the desired period of such leave. (c) Annual leave shall be taken in an amount and at a time which is approved by the employer subject to the operational requirements of the workplace. The employer shall not unreasonably withhold or revoke such approval.

  • 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.

  • 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.

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