Common use of INTEREST ON RETROACTIVE SALARY Clause in Contracts

INTEREST ON RETROACTIVE SALARY. 16.01 The Division will pay interest on retroactive salary increases payable to employees covered by this Agreement. Such interest will be paid from the date the increase in salary is payable and on the gross amount of retroactive pay due less the amount of any statutory deduction for Canada Pension, Employment Insurance and Income Tax with respect to that pay and shall be calculated from the dates which the monies would have been due to the date of actual payment.

INTEREST ON RETROACTIVE SALARY. 16.01 14.01 The Division will pay interest on retroactive salary increases payable to employees covered by this Agreementagreement. Such interest will be paid from the date the increase in salary is payable and on the gross amount of retroactive pay due less the amount of any statutory deduction for Canada Pension, Employment Insurance and Income Tax with respect to that pay and shall be calculated from the dates which the monies would have been due to the date of actual payment.

INTEREST ON RETROACTIVE SALARY. 16.01 15.01 The Division will pay interest on retroactive salary increases payable to employees covered by this Agreement. Such interest will be paid from the date the increase in salary is payable and on the gross amount of retroactive pay due less the amount of any statutory deduction for Canada Pension, Employment Insurance and Income Tax with respect to that pay and shall be calculated from the dates which the monies would have been due to the date of actual payment.