Common use of Computation of Vacation Pay Clause in Contracts

Computation of Vacation Pay. Employees will be paid vacation pay in accordance with the Employment Standards Act and Regulations except that after twenty-two (22) years after hire date vacation pay shall be 10%, after fourteen (14) years after hire date vacation pay shall be 8% and after five (5) calendar years of service vacation pay shall be 6% instead of 4% required by the Act. Vacation pay will be paid the first pay date of July as a lump sum on a separate cheque or upon termination of employment.

Computation of Vacation Pay. Employees will be paid vacation pay in accordance with the Employment Standards Act and Regulations except that after twenty-two (22) years after hire date vacation pay shall be 10%, after fourteen (14) years after hire date vacation pay shall be 8% and after five (5) calendar years of service vacation pay shall be 6% instead of 4% required by the Act. Vacation pay will be paid the first pay date of July as a lump sum on a separate cheque or upon termination of employment.

Computation of Vacation Pay. Employees will be paid vacation pay in accordance with the Employment Standards Act and Regulations except that after twenty-two (22) years after hire date vacation pay shall be 10%, after fourteen (14) years after hire date vacation pay shall be 8% and after five (5) calendar years of service vacation pay shall be 6% instead of 4% required by the Act%. Vacation pay will be paid with each regular pay. Employees have the first pay date of July as a lump sum on option to set up a separate cheque or upon termination of employmentdirect deposit account with a fixed amount allocated to that account with each regular pay, that approximately reflects their regular vacation pay amount. This amount will be able to be amended by the employee, as required.