Vacation Pay definition

Vacation Pay means an amount of money that is payable to an employee pursuant to section 2-27;

Vacation Pay means a lump sum payment for accrued leave in a Vacation

Vacation Pay means the Daily Wage payable during the Vacation Leave; and

Examples of Vacation Pay in a sentence

• Remittances to the Vacation Pay Trust Fund shall be made promptly by the fifteenth (15th) of each month for the credited amounts in the previous month, in order to satisfy the legal requirements pertaining to the disbursement of vacation pay.

• The Council may allocate such percentage among the aforementioned fringe categories so long as the statutory requirements for Holiday Pay and Vacation Pay are satisfied.

• Pay cheque stubs will show actual amount of Vacation Pay and Statutory Holiday Pay.

• Income tax on Vacation Pay and Statutory Holiday Pay will be calculated and paid out of the employee's hourly rate weekly.

• The vacation pay for all employees will be remitted monthly by the Employer to the Union’s Vacation Pay Trust Fund, together with an itemized list of the employees for whom remittances are made and the amount of vacation pay remitted for each.

More Definitions of Vacation Pay

Vacation Pay is the compensation an employee receives while taking their vacation entitlement. Based on a percentage of the employee's straight-time pay in the vacation accrual year.

Vacation Pay means remuneration paid by an employer to an employee for time away from work provided by an employer to an employee to use for any reason the employee chooses but does not include leave for sick pay, compensatory time, holiday, or other special leave.

Vacation Pay. Pay for vacation days for all bargaining unit employees shall be the same as that which the employee would have received had they been on a working status.

Vacation Pay means a lump sum payment equal to the Employee's unused vacation days and holidays remaining in the calendar year of termination times a fraction, the numerator of which shall be Employee's Compensation and the denominator of which shall be 260, payable within thirty (30) days after termination of employment.

Vacation Pay shall be computed as follows:

Vacation Pay in this Article shall mean 4% of the earnings received from the Company for all work done by the employee in the preceding calendar year if he is entitled to two weeks' vacation with pay, to 6% of such earnings if he is entitled to three weeks' vacation with pay, to 8% of such earnings if he is entitled to four weeks' vacation with pay, to 10% of such earnings if he is entitled to five weeks' vacation with pay, and to 12% of such earnings if he is entitled to six weeks' vacation with pay, and to 14% of such earnings if he is entitled to seven weeks' vacation with pay.

Vacation Pay is the percentage of total wages earned during the year in respect of which the employee becomes entitled to an annual vacation. Regular employees will continue to accrue vacation pay for work missed while in receipt of Workers' Compensation Board time-loss benefits up to a maximum period of twenty- six (26) weeks, provided the employee returns to full-time employment.