Holiday Pay Calculator Free

A holiday pay calculator is any tool that allows either an employee or employer to work out holiday pay rates. In the modern world, most holiday pay calculators are software-based and guide users through the process by asking simple questions. Calculation software is often online-based, but in some cases may be downloadable to a PC or other electronic device.

Paid holiday is time off granted by an employer to employees where they still pay them. It is generally given so that staff can take time away from work for things like holidays, moving home or attending personal events.

Nearly all workers, except those who are genuinely self-employed, have an entitlement to 5.6 weeks’ paid holiday per year. This entitlement is set out by the government in the Working Time Regulations 1998.
For a full-time employee who works 5 days a week, 5.6 weeks equates to 28 days’ leave. These 28 days will often include statutory days like bank and public holidays. For those who work part time or irregular hours, more complex calculations may be required.

This can depend on the number of hours you work and the type of contract you have. You should receive the same amount of pay whilst on leave as you would if you work. The requirement of this is set out in law. How an employee calculates the amount of pay given can differ based on the type of hours an employee works and the contract they have.

A holiday pay calculator will take all the variables it requires to work out holiday pay and then apply the correct formula to come up with an answer. To get the information it requires, the software will ask the user a series of questions. These may include:
1. Number of hours an employee works.
2. The employees’ normal rate of pay.
3. The employees normal holiday entitlement. It may need this information as holiday above the entitlement may not receive pay at all.

There are many benefits to using a holiday pay calculator, including:

1. Easy to use. Most holiday pay calculators are easy to use and require little input from the user, other than answering a few basic questions.

2. Quick calculations. Working out holiday pay using pen and paper can be time-consuming. A holiday pay calculator will give an answer in a few seconds.

3. Less errors and more accurate. Using pen and paper to work out holiday pay can be difficult. The sums involved can be complex and prone to error. Any good holiday pay calculator will work through calculations in seconds with zero errors.

The right to holiday pay is set out by the government in the Working Time Regulations 1998. Every employee (unless they are self-employed) has an entitlement to 5.6 weeks paid leave each year. This may include the eight public and bank holidays. Some employers, however, may offer leave entitlement for these separately.
It is a statutory requirement for employers to pay workers at a minimum of their normal level of pay whilst they are on paid leave. The way this is calculated may be different depending on the hours or shifts worked but must not result in a payment that is less than the employee’s standard rate. Any holiday above this entitlement may receive no pay at all.