Holiday pay fund. Employers pay 0.25% of the same pay reference base as is used to calculate pension premiums to the Commercial Workers’ Holiday Home Fund (Orlofsheimilisjóður verslunarmanna). The parties to this Agreement agree that the pension funds concerned shall be responsible for the collection of this fee, together with a premium of the same size to be paid to the Community Centre Fund of the Commercial Employers’ Association (Félagsheimilasjóður verslunarsamtakanna) or to other employers who are parties to this Agreement, as agreed in further detail by those paying these fees. Collection costs shall be divided equally. - See Act No. 55/1980 on Working Terms and Obligatory Pension Rights Insurance.
Holiday pay fund. (1) (a) There is hereby continued a holiday pay fund known as the Clothing Industry Holiday Pay Fund (Northern Areas), hereinafter referred to as the "Fund". The Fund is non-compulsory:
Holiday pay fund. 6.3.1 Employers pay 0.25% of the total wages to a holiday-pay fund of the union involved. It is permitted to agree on other arrangements
