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Registered User
Trade: Builder
Join Date: Apr 2007
Location: Qualicum Beach, BC
Posts: 8
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Statutory Holiday Payroll Options
Holiday pay percentage
(Previously posted in Construction) Instead of paying out a day's pay every statutory holiday. There should be a percentage that could be applied to gross earnings to mirror the stat. This avoids bad feelings when a new employee that has only worked the previous week has a stat fall into their first pay period, and are not eligible for the full days pay. In BC we have nine stats. What percentage do other contractors use to calculate the statutory holiday and pay as well as the 4% vacation pay applied to the gross earnings. I'm considering 3.5% based on nine stats X 8 hours= 72 hrs. A full year's hours, 52 weeks X 40 Hours= 2080. Thats about 3.46% Add that to the 4% for employees employed continuously up to five years, when it changes to 6%. Any errors in my math or logic? |
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