Holiday Pay Percentage

Rigormortis

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?

woodmagman

We are required to pay 9.6% it is the law....welcome to Alberta.

Rigormortis

Thanks for the reply. So the 6% vacation mandated by goverment combined with the statutory holiday equivalant of 3.5% is what your rate in Alberta is based on? Go Canucks, Go Flames

Zero Punch

What's holiday pay??????????

Same Old

I'm glad I'm not in Canada.

woodmagman

Me too....