Excel is exhausting; Go for effortless attendance & Payroll!.
Try Salarium for FREE today.
BY salarium Attendance
Long streaks of holidays and non-working days lie ahead, and for most of us in HR, this means one thing: special pay computations. While some employees are taking their much anticipated breaks, a lot of people will work as usual. Some will even render overtime hours for additional income.
To field atypical questions and preempt unnecessary disputes, we’ll have to be ready. It’s time to revisit the formulas for calculating wages and salaries earned during holidays and special non-working days.
Here’s a quick list* of the upcoming holidays and special non-working days and of their corresponding pay formulas. You can save this page for future reference, or, to set proper salary expectations, share it to the whole team.
Basic wage/Daily rate + Cost of Living Allowance (COLA)
(Daily rate + COLA) x 2
[(Basic wage + COLA) x 2] + (Basic hourly rate x Number of excess hours x 2.6)
[(Basic wage + COLA) x 2] + [(Basic wage x 2) x .30]
[(Basic wage + COLA x 2] + [(Basic wage x 2) x .30] + [(Basic hourly rate x 2.6) x Number of excess hours x 1.3]
No work no pay, unless there is a favorable company policy, practice, or collective bargaining agreement (CBA) granting payment on a special day.
[(Daily rate x 1.3) + COLA]
[(Daily rate x 1.3) + COLA] + (Daily rate x 1.69 x Number of excess hours)
[(Daily rate x 1.5) + COLA]
[(Daily rate x 1.5) + COLA] + (Basic hourly rate x 1.95 x Number of excess hours)
*This list was put together with the help of these documents.