Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days.
Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days. An employee has a monthly wage of ISK 495,000 for full-time employment, based on daytime work. His daily wage is therefore ISK 22,843 (495,000/21.67). The December bonus is ISK 106,000 (2024). Instead of this ISK 106,000 December bonus, the employee and employer may agree that he receive three days of leave on full pay (ISK 22,843 x 4) and payment of ISK 14,628 as the balance of the December bonus.
