Miss. A. Sample © Michael Boyd & Partners Ltd This is the amount you will receive in your bank account, when NI and tax has been deducted. In addition, if your assignment ends without you taking any holiday (or part holiday), any money accrued in your holiday fund will be paid to you in your final pay slip. You are entitled to 28 days holiday per year (including bank holidays) and are advised to take holiday each quarter. Please note however, that should you have money in your holiday fund after temping through Michael Boyd for 12 months, Michael Boyd will pay you whatever is left in your holiday fund and your holiday fund will begin to accrue again. 401.04 ÷ 7.50 = 53.47 hours 53.47 hours ÷ 7.5 hours per day = 7.13 days Using the information on the payslip on the left, this person has just over 7 days paid holiday to take. (Money in Holiday Fund C/F ÷ Hourly Rate) ÷ Average working hours in day. In this example, the total current holiday fund equals £401.04. To work out how many days holiday this equates to, use the following formula: Holiday Fund ‘Holiday Fund Accrued’ is the amount of money accrued this week for the holiday fund. ‘Holiday Fund C/F’ is the total amount of money you have in your holiday fund. Your holiday fund is accrued the day you start temping and is calculated at 12.07% of your hourly rate. Total Gross Pay is the total amount you have been paid this week including any overtime you may have worked and holiday pay you have been paid, before tax and NI has been taken. AB 11 22 33 C Date that money will be in your bank account. Tax Code, Tax and National Insurance Unfortunately, Michael Boyd does not set your tax code and cannot answer any questions regarding your tax code or the amount you have been taxed. Michael Boyd works on information received from the tax office. If you have any questions regarding your tax code, please contact your local tax office. Wages before tax. Hourly rate multiplied by number of hours. Hourly wage Number of hours worked 1234 Holiday Fund Repaid If you take holiday or if there is a bank holiday which you do not work, you will automatically be paid out of a holiday fund. If you take holiday and do not have enough in your holiday fund, you will only receive the amount which is in your holiday fund. If you take 5 days holiday but have enough for 7 days holiday, you will only receive 5 days holiday pay. The remainder will stay in your holiday fund until you next take holiday. Your Payslip Explained
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