You probably already know that it is healthy to take a vacation every now and then. However, it is not always possible – for example due to prolonged pressure at work. In that case, you can have your vacation days paid out: you get money back for them. What amount does that involve? And is it even wise to do this? We would be happy to tell you more about that.
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What is a vacation day worth?
It is useful to know the value of a vacation day for several reasons. Firstly, if you want to check whether you are getting enough salary. During your vacation, you are entitled to the same amount of salary as usual. Do you think you have received too little? Contact us and we will find out together for you.
The financial value of a vacation day is secondly relevant if you sell days, for example when you leave employment or have saved more than you can get. If you agree with your employer that you will sell your vacation days, you must receive the correct amount for this.
Calculate the value of your vacation days
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.
Buy out vacation days
If you leave your employment, you can have all your vacation days bought out by your employer: you will then receive them in the final settlement. Are you not leaving your employment? Then you can only have your extra-statutory vacation days paid out, and not the days to which you are legally entitled. Buying out your extra-statutory vacation days is only possible with your written consent.
This is what you should pay attention to
Of course, we can't tell you whether it's wise to have your vacation days paid out. But we can tell you what you need to pay attention to. The most important thing to take into account is tax. You pay an increased tax rate on paid vacation days, while you pay the regular tax rate on the salary during a vacation day taken.
In short: there is less left financially from a vacation day 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 back for a vacation day. Or contact us, we are happy to look with you!
Learn more!
Want to know more about how leave and vacation days work? Check out our handy links and discover all the do's and don'ts!
- Holidays and holiday pay (source: UWV.nl)
- Taking vacation days – even if you haven't accrued enough yet (source: HR Practice)
- How can I take my vacation days? (source: Rijksoverheid.nl)
We'll help you get started
Do you have questions about paying out vacation days or are you unsure about what to do with your days? Our specialists are available every working day. We can be reached from 8.30:17.00 to 0345:851 via sc@unie.nl and 963 XNUMX XNUMX.
