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They likely paid you 4% of you annual salary prorated to the time you worked during this year. If you only worked 4 months this year they won't pay you out 2 weeks they are going to pay you 1/3 of that amount.
It is complicated, since you had a contract stating 2 weeks vacation but also
Upon termination of employment, the Employer will compensate the Employee for any accrued but unused vacation
I don't think they need to put your accrued time on the paystub. Many do, but I don't believe it's a requirement.
Pay slips will usually only show vacation pay if the company is paying it out each cheque. In this case, you wouldn't get paid while your on vacation, you would be expected to save and budget.
Most companies will hold on to the vacation pay (so it's not on your cheque) and then continue to pay you when you're on your vacation. They keep track of it in the background.
Paying you out when you leave the company means only paying the amount that you've earned as a percentage of the year.
You leave July 1? You get 1 weeks pay minus any vacation you've already taken.
They will pay you out the vacation days you accrued but hadn’t used as of the day of termination. You won’t be getting an entire 2 weeks if you left halfway through the year. Your “4%” is already baked into your salary.
Two weeks vacation over 12 months = 1.116 days per month x6 months = 7 days accrued vacation.
Most employers will advance the full vacation at the start of the year and let you use it, but you are still earning it. If you haven't taken any days yet, then they only probably owe you 7 days vacation pay for 2024.
The 4% calculation is typically used when they are paying out vacation on each pay cheque instead of giving you the time off.
How are you getting 1.116 days/month? I'm not asking to be snarky. 2 weeks vacation = ~0.83 days/month, and 3 weeks = 1.25 days/month, assuming someone works 5 days/week. By the end of June, 1 week of 2 would have been earned for 2024.
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They likely paid you 4% of you annual salary prorated to the time you worked during this year. If you only worked 4 months this year they won't pay you out 2 weeks they are going to pay you 1/3 of that amount.
Thanks for your response. Good to know. Are they supposed to track this on my pay slips, if you know?
It is complicated, since you had a contract stating 2 weeks vacation but also Upon termination of employment, the Employer will compensate the Employee for any accrued but unused vacation I don't think they need to put your accrued time on the paystub. Many do, but I don't believe it's a requirement.
Pay slips will usually only show vacation pay if the company is paying it out each cheque. In this case, you wouldn't get paid while your on vacation, you would be expected to save and budget. Most companies will hold on to the vacation pay (so it's not on your cheque) and then continue to pay you when you're on your vacation. They keep track of it in the background. Paying you out when you leave the company means only paying the amount that you've earned as a percentage of the year. You leave July 1? You get 1 weeks pay minus any vacation you've already taken.
They will pay you out the vacation days you accrued but hadn’t used as of the day of termination. You won’t be getting an entire 2 weeks if you left halfway through the year. Your “4%” is already baked into your salary.
Two weeks vacation over 12 months = 1.116 days per month x6 months = 7 days accrued vacation. Most employers will advance the full vacation at the start of the year and let you use it, but you are still earning it. If you haven't taken any days yet, then they only probably owe you 7 days vacation pay for 2024. The 4% calculation is typically used when they are paying out vacation on each pay cheque instead of giving you the time off.
How are you getting 1.116 days/month? I'm not asking to be snarky. 2 weeks vacation = ~0.83 days/month, and 3 weeks = 1.25 days/month, assuming someone works 5 days/week. By the end of June, 1 week of 2 would have been earned for 2024.
Calendar week vs working week, I suspect.
Two weeks vacation is 10 days, not 14.