Common use of Computation of Vacation Pay Clause in Contracts

Computation of Vacation Pay. Where an employee's vacation pay for the current year will be reconciled after the end of the year and paid out by the end of January. It will be computed as a percentage of their "total wages earned" in the previous year, such "total wages earned" shall include the amount of vacation pay the employee received in the previous year. The vacation pay calculation under the Labour Agreement will take place after the completion of the Vacation Year based on the following rules:

Computation of Vacation Pay. Where an employee's vacation pay for the current year will be reconciled after the end of the year and paid out by the end of January. It will be computed as a percentage of their "total wages earned" in the previous year, such "total wages earned" shall include the amount of vacation pay the employee received in the previous year. The vacation pay calculation under the Labour Agreement will take place after the completion of the Vacation Year based on the following rules:.