Vacation Pay is the compensation employees receive for taking approved time off, calculated based on their regular wage and accrued leave balance, per company policy.
- What is vacation pay?
Answer: It is compensation for approved time off based on accrued leave. - How is it calculated?
Answer: It is based on regular hourly or salaried rate. - Is it mandatory?
Answer: It is not federally required but common in policies. - What are the benefits?
Answer: It promotes work-life balance and retention. - How does HR manage it?
Answer: HR tracks accruals and processes payments.
