Holiday pay compensation

[vitaliysh]

Heya!

Can someone help me figure out holiday pay compensation?

Given:
Full time employee
30 days holidays per year - 24 summer, 6 winter
Monthly salary of say 3000 euro

So the http://www.tyosuojelu.fi/fi/holidays website says:

The holiday pay of an employee receiving monthly pay shall be calculated by dividing the monthly pay by the number of workdays per month, and multiplying the resulting daily pay by the number of weekdays during the annual holiday.

This gives us = 3000/22 (working days in month) = 136 euro

So on summer holiday payday (June) employee should get:
136 * 24 = 3264

Will employee get normal salary same month as well?
3264 + 3000 = 6264

Because what employee currently has in payslip is:
Salary of 3000 eur + 1500 holiday pay.
Where the 50% (1500) comes from?

[riku2]

There is a confusion here of holiday pay and holiday bonus.

holiday pay = included in the annual holidays act for all employees.
holiday bonus = part of some employees' collective agreement

holiday pay
this is calculated in the way you explained but you haven't taken account that when you are on holiday you do not get your normal salary. you get "holiday pay" instead.
For most employees I think it will be the same as their normal salary - in effect you are getting paid holiday but in this strangely worded way. probably for part time employees or some other types then the calculations give something different.

holiday bonus - this is often an extra payment of 50% of the holiday period (so five weeks holiday = 50% of five weeks salary). companies vary on when they pay this, I get half before july and half in august (strictly speaking it's due before/after when you actually take holiday but our payroll make their lives easier and assume everyone in the company will use their summer holiday in one block in july, in the same way that the payslip shows "holidays taken" = 24 in the july payslip, regardless of when you do actually take your summer holiday).

If your current payslip shows salary + 50% "holiday pay" then your payroll have called "holiday bonus" as "holiday pay". it will be interesting what they print when you are actually on holiday. hopefully not "holiday pay" as well.

[vitaliysh]

Thanks a lot riku2!
I was a bit confused because when I asked our accountant what amount should I put in tax form, she told me "Multiply your salary by 13" So I assumed our holiday pay equates to salary + we get normal salary on top during that month.

[Liam1]

I recall when I negotiated my annual salary, I had the same issue - that to calculate my monthly pay, it was then divided by 12,8 (I think - anyway not 12 but not as much as 13)

Unlike Riku's more pragmatic company, I have to go in to an HR system to say that I have taken the holiday in order to get the bonus. Means last year, I didn't get much of it but will get it eventually as you don't ever lose holidas here..

[Flossy1978]

I think I get about 60-70% of my salary for June, for my holiday bonus pay. I get it on the last day of June, along with my normal salary.

Does everyone get this extra pay? I've always wondered about it.

[Rip]

Does everyone get this extra pay? I've always wondered about it.

It's mot required by law, but probably in almost every TES nowadays. I don't know about short term part time employees. Finnish term is lomaraha.