Retroactive recalculation Clause Samples
A retroactive recalculation clause allows for the adjustment of previously determined amounts, such as payments or charges, based on new information or corrections that come to light after the original calculation. In practice, this might apply to situations where estimates were used initially, and actual figures become available later, requiring the parties to revisit and amend prior settlements or invoices. The core function of this clause is to ensure fairness and accuracy in financial dealings by correcting discrepancies and aligning payments with actual outcomes, thereby preventing overpayments or underpayments.
Retroactive recalculation. If this salary agreement is applied retroactively the following applies concerning deduc- tions for sickness etc., deductions for leave of absence and paid overtime compensation. Individual deductions for sickness etc. are recalculated as follows: • Deductions for sickness up to and including the 14th calendar day shall be recalculated retroactively. Retroactive recalculation shall not take place in respect of deductions for sickness from and including the 15th calendar day other than to the extent that the salary increase has been taken into account in setting the sickness benefit. • Deductions for leave of absence shall be recalculated retroactively. Recalculation shall be performed individually. • Overtime compensation shall be recalculated retroactively. Recalculation shall be performed individually for each salaried employee.
Retroactive recalculation. In case this salary agreement is applied retroactively, the following shall apply regarding salary deductions for sick leave, leave of absence and paid-out overtime compensation. Individual recalculation of sick leave deductions etc. shall be made in accordance with the following: A sick leave deduction through the 14th calendar day shall be recalculated retroactively. No retroactive recalculation shall be made for sick leave deductions from the 15th calendar day, except to the extent the salary increase has been taken into consideration at the time the sick pay was determined. A deduction for leave of absence shall be recalculated retroactively. The recalculation shall be made individually. Overtime compensation shall be recalculated retroactively. The recalculation shall be made by the average salary increase for salaried employees at the company, unless a local agreement is made to the effect that the recalculation shall be made individually for each salaried employee.
Retroactive recalculation. The following applies regarding the recalculation of retroactive salary increases. The recalculation must be done individually for each em- ployee concerned.
a) Salary supplements and other remuneration Salary supplements and other remuneration linked to the monthly sal- ary are to be recalculated retroactively.
b) Leave of absence deduction Leave of absence deductions are to be recalculated retroactively.
c) Sick pay Sick leave deductions during the sick pay period are to be recalculated retroactively. Sick leave deduction for the period thereafter is not to be recalculated retroactively. Sick leave deductions up to the 14th calendar day of the sick pay period are to be recalculated retroactively. However, sick leave deductions from the 15th calendar day are not to be recalculated retroactively.