calculation of leave entitlements of employee

In Australia you accure the entitlement in days and you are paid at your current salary when the days are taken.

Some industries have various allowances and leave loadings but these tend to be applied to employees who are paid wages rather than a salary.

Waseem,

With the organisation I work for, during the first twelve months you are in what is known as a probationary period. During this time your leave entitlement is accrued at the rate of 2.5 days per calendar month.

After successfully completing the probationary period an annual leave allowance of 30 days is made. In both cases, time off is paid at your current salary rate.

Chris Oggham

thanks Chris N Frank,


this has really helped me to take up this issue with my company to make them understand the prevailing conditions around the world in the reputed companies,

i was surprised that the response i expect to get from the forum was not that encouraging anyway thanks for reading.


cheers.

waseem

Usually in most of companies, calculation for the entitlements is based on the currrent salary but such terms and conditions depend upon your agreement with your Company

I seem to remember a couple of years ago a big thing in the news regarding leave. At that stage it was calculated how many millions are loss due to company’s not managing employees leeve.

In Managing I remember that it is better not to allow an employee to accumulate to much leave because this actualy effect your finances.

I can not remember it all but I am sure that a Financial Person will be able to help.

Example

Assume I
Y1 I get 10 USD per Day AND 20 Day’s leave
Y2 I get 20 USD per Day AND 20 Day’s leave
Y3 I get 30 USD Per Day AND 20 Day’s leave

The Company Will Then Pay into the Leave Fund an amount of
Y1 USD 200
Y2 USD 400
Y3 USD 600
Total = 1200 USD

After Three Year I have accumulated my leave I decide to take leave. I Take 60 Day’s

Now 60 Days at 30 USD per Day = 1800 USD

This leave the Fund 600 USD Short.

I have also heard that the company’s manage leave funds and for they take the interest on it / or lose it all and then the employees have lost it etc.

thanks Jaco & Munawar,

atlast i got a reply from the local region, i think the jaco example will be of good help to make the rigid management of the companies understand, who do not care at all about the whole state of affairs and are happy to show the senior management by doing these dirty tacticts saving for the comapany, where as in actual they are affecting the company and ruining the relation with the employees, and also losing the a good employee from the companies.

i believe the senior managment should be aware of the whole situation and not be contended with the forged reports showing the wrong balance sheets.

cheers!!!!!!

waseem saber

Am I in the right forum?

Leave entitlements???

Cost control???

Uri,

Yes you are mate. Suppose a key member of the project team had accumulated six weeks leave, and was told by senior management that they must take at least four weeks, right now. What would that do to our carefully constructed plans and schedules?

Also some idea of leave entitlements is useful when you come to negotiate your contract. Maybe the subject seems a bit off the beam at first sight, but it is certainly worth considering.

Chris Oggham

thanks Chris, n also Uri,

Uri,kindly check my first thread where in it was specificly mentioned for CHANGE from the routine discussion we need to get of the track and to take into account this aspect as well and if you cannot apprehend the contents, u r welcome to stay out.i agree with Chris that this aspect also needs consideration.

Experience is a hard teacher because she gives the test first, the lesson afterward.




Cheers!!!!

Waseem saber

Hi Waseem,
Interesting thread, bye the way is it taste or test first?...

Cheers!!!

Daya

Hi! Daya welcome aboard,it is both test n test (the same is’nt) i expected your response a bit earlier, anyway better late then never.



cheers!!!!!!

Waseem Saber

Hi Bill,

Quite correct, but I suggest, for those negotiating contracts, read your terms. In most countries the laws are in place determining the amounts of leave available, and also the rules. In most cases the laws can be overridin by alterations to contract. So the abritor at the end of the day will be the department of labour or whatever it’s namesake. Whenever in doubt about your rights in the workplace approach the labour dept. However, if you are doing a good job for your employer, you should not end up in the situation. Laws are there for the protection of people, but, they protect the government and companies as well, in most instances.