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FRS 102 - Holiday Pay Accrual

  • 26-09-2016 5:38pm
    #1
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭


    Hi All,

    Just looking for some clarity on the calculation of Holiday Pay Accrual and to see what methods others here are using for the calculation.

    For salaried employee's, is it simply a case of taking the salary and dividing by the number of working days in a year to get the daily rate used for the calculation. Also, should employer's PRSI be taken into consideration for the calculation?

    Cheers,
    Hcksaw.


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    For June year ends we are taking annual x 1/2 - days taken x daily cost including employers PRSI.

    In most cases this is 2 weeks.


  • #3
    Tauriel
    Registered Users, Registered Users 2 Posts: 30,504 ✭✭✭✭Tauriel


    I echo Lockedout2, and yes you should include Employer PRSI in your calculations.


  • #4
    Timbo1987
    Registered Users, Registered Users 2 Posts: 52 ✭✭Timbo1987


    Agreed, Accrue the full cost that is due to the employer


  • #5
    captbarnacles
    Registered Users Posts: 1,972 ✭✭✭captbarnacles


    Anyone know what the situation is when there is large amount of holidays being carried forward? acrrue for it all?

    As an aside, does entitlement to annual leave days ever expire if not mentioned in the work contract?


  • #6
    exaisle
    Registered Users, Registered Users 2 Posts: 2,675 ✭✭✭exaisle


    Take gross pay in the year to date, then deduct Bank Holiday Pay and Ordinary Holiday Pay already paid included in that figure.
    Then take 8% of that figure (or 20 days gross pay,whichever is the lesser), and deduct the Ordinary Holiday Pay already paid.

    Add 10.75% for A1 rate PRSI contributors,(8.5% if average weekly pay is less than €376.01) and that's the amount of holiday pay due.

    That's the accrual for holiday pay...but I'm open to correction....


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