Common use of Method of Calculating Vacation Pay Clause in Contracts

Method of Calculating Vacation Pay. Vacation pay for each week of vacation (excluding vacation pay for first vacation under 21.02) for employees will be the greater of 2.1% of the previous years earnings as reported on the employee's T-4 slips or the normal weekly hours at the regular straight time rate (exclusive of shift or other premiums) reduced by one fifty-second (1/52nd) for each week of absence,excepting absences which are:

Method of Calculating Vacation Pay. Vacation pay for each week of vacation shall be calculated as follows: Two (excluding vacation pay for first vacation under 21.022%) for employees will be the greater of 2.1% percent of the employee’s previous years earnings as reported on year’s earnings, exclusive of allowances, or forty (40) hours of pay at the employee's T-4 slips or the normal weekly hours at the ’s regular straight time rate (exclusive of shift or other premiums) reduced by one fifty-second (1/52nd) rate, whichever is greater, for each week of absence,excepting absences which are:eligible vacation. Subject to legislation, employees who have not worked a minimum of six (6) months in the twelve (12) month period shall be paid vacation pay based on the percentage.