Vacation is good for you. Yet it is not always possible to make up your days. No problem, sometimes you can just have them paid out. You will lose your days, but you will get money in return. How much is that? And whether this exchange is even wise? We will discuss this in detail in this article.
The value of a vacation day
To calculate what a vacation day is worth, add the following parts together:
- the gross wage you earn in one day
- all fixed allowances and allowances, such as:
- holiday bonus
- fixed thirteenth month
- fixed year-end bonus
- profit sharing
- personal benefits you receive on a regular basis
- commission you receive on a regular basis
- bonus over a representative period
This does not include incidental or variable allowances, such as expense or travel reimbursement.
When is it important to know the value of a vacation day?
Firstly, if you want to check whether you are getting enough salary. During your holiday you are entitled to just as much salary as usual. Do you feel that you have received too little? Please contact our legal advisors and we will look into it for you together.
The financial value of a vacation day also becomes relevant when you sell days, for example when you leave employment or have saved more than you can get. Do you agree with your employer that you will sell your vacation days? Then you have to get the right amount for that.
When can you buy off days?
If you leave employment, you can have all your vacation days surrendered by your employer: you will then be paid them with the final settlement. Aren't you going out of service? Then you can only have your holiday days in excess of the statutory entitlement, and not the days to which you are legally entitled. Redemption of your holidays in excess of the statutory minimum is only possible with your written consent.
Cashing out: wise?
We cannot of course tell you whether you have to have your vacation days paid out. But we can tell you what you should pay attention to. The most important thing to consider is the tax. You pay an increased tax rate on paid vacation days, while you pay the regular tax rate on the wages during a vacation day taken. In short: from a financial point of view there is less left of a holiday if you have it paid out. But how much is left depends on your situation and income. Your employer can help you calculate what you get in return for a holiday. Or contact our Service Center, we are also happy to take a look with you!
Do you have questions about having your vacation days paid out or are you unsure what to do with your days? Our Service Center is ready to assist you. We can be reached every working day from 8.30:17.00 am to 0345:851 pm via firstname.lastname@example.org and 963 XNUMX XNUMX.