Vacation Pay
Vacation pay is a type of compensation that employees receive while they take time off from work for vacation. It is typically calculated based on the employee's regular earnings and is intended to provide financial support during their time away from their job. Many employers offer vacation pay as part of their benefits package to promote work-life balance and employee well-being.
In most cases, vacation pay is accrued over time, meaning employees earn a certain amount of pay for each hour worked. The specific policies regarding vacation pay can vary by company and may be influenced by local labor laws, which outline the minimum requirements for paid time off.