Employee Final Pay Calculation Examples
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Case Study 1: Sales Team Head Settlement
Employee Details & Salary Structure
1. Calculate the settlement for the Head of a Sales Team, who started services on April 12, 2006, with a permanent contract, and voluntarily resigned on November 3, 2009. |
His salary, according to the Convention, is as follows: |
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Settlement Calculation Steps
Unpaid Salary
- Period: November 1 - November 3 (3 days)
Monthly Salary = 1,090 + 320 + 90 = 1,500 Euros/month
Unpaid Salary for 3 days = (1,500 / 30) * 3 = 150 Euros
Pro-rata June Bonus
- Period: July 1 - November 3 (123 days)
If 1,090 Euros for one year (360 days), then for 123 days = (1,090 / 360) * 123 = 372.42 Euros
Pro-rata December Bonus
- Period: January 1 - November 3 (303 days)
If 1,090 Euros for one year (360 days), then for 303 days = (1,090 / 360) * 303 = 917.42 Euros
Accrued Vacation Pay
- Accrual: 32 days per 360 calendar days.
- Period worked in current year: January 1 - November 3 (303 days)
Days accrued = (32 / 360) * 303 = 26.93 days
Days taken = 20 days
Remaining days to be paid = 26.93 - 20 = 6.93 days
Daily Salary = 1,090 / 30 = 36.33 Euros
Accrued Holiday Pay = 36.33 * 6.93 = 251.77 Euros
Total Settlement for Case 1
Total Settlement = 150 + 372.42 + 917.42 + 251.77 = 1,691.61 Euros
Case Study 2: Logistics Technician Settlement
Employee Details & Salary Conditions
2. Calculate the final settlement for an International Logistics Technician on a fixed-term contract, who started service on September 22, 2009, and ended on November 5, 2009. |
The following salary conditions were agreed: |
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Settlement Calculation Steps
Unpaid Salary
- Period: November 1 - November 5 (5 days)
Monthly Salary = 1,200 + 200 + 100 = 1,500 Euros/month
Daily Salary = 1,500 / 30 = 50 Euros
Unpaid Salary = 50 * 5 = 250 Euros
Pro-rata December Bonus
- Period: September 22 - November 5 (44 days)
If 1,200 Euros for 180 days (semi-annual period), then for 44 days = (1,200 / 180) * 44 = 293.33 Euros
Pro-rata Annual Benefit (March)
- Annual Benefit: 80% of Base Salary = 0.80 * 1,200 = 960 Euros
- Period: September 22 - November 5 (44 days)
If 960 Euros for 360 days, then for 44 days = (960 / 360) * 44 = 117.33 Euros
Pro-rata Holiday Pay
- Accrual: 30 days per 360 days (standard assumption if not specified)
- Period worked: September 22 - November 5 (44 days)
Days accrued = (30 / 360) * 44 = 3.67 days
Daily Salary for Holiday Pay Calculation = 1,200 / 30 = 40 Euros
Holiday Pay = 3.67 * 40 = 146.80 Euros
Termination Compensation
- Service Period: 44 days (equivalent to 1 month for compensation purposes, as 1 month and 14 days is typically rounded to 1 month for this type of calculation).
- Compensation Rate: 8 days' wages per year worked.
If 8 days' wages accrue per 12 months, then for 1 month = 8 / 12 = 0.67 days
Daily Salary for Compensation = (Base Salary + Productivity Bonus + Pro-rata Annual Bonuses + Pro-rata Annual Benefit) / 30
Daily Salary for Compensation = (1,200 + 200 + (1,200 * 2 / 12) + (960 / 12)) / 30
Daily Salary for Compensation = (1,200 + 200 + 200 + 80) / 30 = 1,680 / 30 = 56 Euros/day
Compensation = 56 * 0.67 = 37.52 Euros
Total Settlement for Case 2
Total Settlement = 250 + 293.33 + 117.33 + 146.80 + 37.52 = 844.98 Euros