Benefit Funds - Additional Holiday Fund

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The contributions to this holiday bonus scheme are payable by all establishments in respect of those employees listed hereunder:

EFFECTIVE 28.02.2003  

 

WEEKLY CONTRIBUTION
EMPLOYEE           EMPLOYER         TOTAL
1st Year Apprentices - 4 Year Contract R ,00 R12.57 R12.57
2nd Year Apprentices - 4 Year Contract R ,00 R15.35 R15.35
3rd Year Apprentices - 4 Year Contact R ,00 R18.14 R18.14
4th Year Apprentices - 4 Year Contact R ,00 R20.92 R20.92
1st Year Apprentices - 3 Year Contact R ,00 R12.57 12.57
2nd Year Apprentices - 3 Year Contact R ,00 R18.14 R18.14
3rd Year Apprentices - 3 Year Contact R ,00 R20.92 R20.92
Grade 7 (BA J/Men, Exempted J/Men &operative Engine    Assembler R ,00 R33.50 R33.50
Grade B (Qualified J/Men) R ,00 R37.22 R37.22

FORMULA AND EXAMPLES FOR CALCULATION OF LEAVE PAY

In order to correctly calculate leave pay it is necessary, where applicable, to convert monthly salary to a weekly rate. 

Formula

Monthly salary x 12 = weekly
              52 

Example
Monthly salary = R2000-00
R2000-00 x 12 = R461-54 per week
           52 

Formula
No. of weeks worked x No. of weeks’ leave per annum x weekly wage
                                                  52 

Example 1
Employee is owed leave pay from 4.1.99 to 2.7.99 = 26 weeks 
Qualifies for three weeks per annum.
Earns R450-00 per week. 
26 x 3 x R450-00 = R675-00
         52		 Example 2
Employee is owed leave pay from 4.1.99 to 2.7.99 = 26 weeks
Qualifies for four weeks per annum.
Earns R450-00 per week.
26 x 4 x R450-00 = R900-00
         52

NOTE – In the case of motor vehicle and service supply salesmen weekly earnings must include average commission earned over the period for which leave pay is owed.   This also applies when they proceed on annual leave.