DEFINITION OF MONTHLY SALARY Sample Clauses

DEFINITION OF MONTHLY SALARY. WEEKLY WORKING HOURS AND SICK PAY ETC. Monthly salary = the current monthly salary. Monthly salary in this context includes: • fixed cash monthly salary • fixed salary supplements (on-call duty compensation) • guaranteed minimum commission or similar • the estimated average commission income per month. A local agreement should be made for employees whose salary is to a large extent based on commission regarding the amount from which the sickness deduction shall be made. Weekly working hours refer to an employee's average number of working hours calculated per regular work week during the calendar year. If the employee is on a short fixed-term contract or works irregular hours, the weekly working hours are calculated as an average per month or other scheduled cycle. Sick pay constitutes the compensation that the bank pays employees up un- til the 90th day of sickness. From the 91st calendar day, the rules concerning sickness compensation in accordance with the Pension Agreement apply.
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DEFINITION OF MONTHLY SALARY. WEEKLY WORKING HOURS AND SICK PAY ETC. Monthly salary = the current monthly salary. A monthly salary in this context includes: • fixed cash monthly salary • fixed pay supplements ( on-call duty compensation) • guaranteed minimum commission or similar • the estimated average commission income per month. A local agreement should be reached for employees whose pay is to a large extent based on commission regarding the amount from which the sickness deduction shall be made. Weekly working hours are the number of working hours per ordinary working week for each individual employee. If an employee works irregular hours, the weekly working hours are calculated as an average per month or other scheduled cycle. Sick pay constitutes the compensation that the bank pays employees up until the 90th day of sickness. From the 91st calendar day, the rules concerning sickness compensation in accordance with the Pension Agreement apply. Note:
Sample 1
DEFINITION OF MONTHLY SALARY. AND WEEKLY WORKING TIME Monthly salary Monthly salary means the current monthly salary. Monthly salary includes – fixed monthly salary in cash and any fixed salary supplements per month (e.g. fixed shift or overtime supplements) – the calculated average income per month in commission, profit-sharing, bonuses, incentive salary or similar variable salary components For salaried employees for whom a significant share of their compensation consists of variable salary components, the employer and the salaried employee should agree the salary amount that will be the monthly salary from which sick pay deductions are made. Weekly working time Weekly working time means the number of working hours per normal business week for the individual salaried employee. For salaried employees with irregular working time, weekly working time is calculated as an average per month or other schedule cycle. Weekly working time is calculated to a maximum of two decimal places, where 0 to 4 are rounded down and 5 to 9 are rounded up. If the number of working hours varies in different parts of the year, the working time is calculated as an average per normal business week per year.
Sample 1

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