Annual Leave Pay Calculator
Calculate the approximate gross and net annual leave pay for unused annual leave days.
Gross Annual Leave Pay = (Dressed Monthly Gross Wage / 30) × Unused Leave Days Net Annual Leave Pay = Gross Annual Leave Pay - (SSI Employee Premium + Unemployment Insurance + Income Tax + Stamp Duty)
In the annual leave pay calculation, the entered unused leave days are multiplied by the daily gross wage. Tax and premium rates are taken as user input since they may change periodically.
This calculation produces an approximate result for informational purposes. Unused annual leave pay; may vary according to working period, termination status, payroll information, premium/tax rates, and current legislation. For a precise calculation, support should be obtained from a payroll/human resources expert or legal consultant.
Frequently Asked Questions
What is annual leave pay?
It is the amount that must be paid in case the employment contract is terminated, for the wages pertaining to the annual leave periods that the employee has earned but not used.
How is unused annual leave money calculated?
The daily wage is found over the last gross wage received by the employee (dressed wage including additional benefits if any). This amount is multiplied by the number of unused leave days to obtain the gross amount. The net amount is found after legal deductions are made.
How is the daily gross wage found?
The daily gross wage is found by dividing the monthly gross wage (and additional fringe benefits to be included, if any) by 30 days.
Which deductions are made from annual leave pay?
Just like a normal salary; SSI employee premium, unemployment insurance share, income tax, and stamp duty deductions are made.
Does this calculation give an exact result?
This calculation is approximate and for informational purposes. Net amounts may vary depending on the tax bracket, cumulative income tax base, current legal rates, and additional company practices. You should consult your workplace's human resources/payroll department for precise information.
