Canadian Statutory and National Holidays
We always enjoy talking to our northern neighbors in Canada and occasionally we receive questions about whether Virtual TimeClock can calculate indemnity payments for observed statutory and national holidays. Virtual TimeClock does calculate pay based on hourly rates, but not specifically for these holidays. The question, however, is a good one and the solution is a team effort. Virtual TimeClock easily sums up the hours and pay for each employee, hourly or salary, for a given time period. Simply take the total (non-overtime) hours from the preceding four weeks and gross pay that's automatically calculated on employee timecards and divide by 20. The total you arrive at is the indemnity for that employee. Here's an example:
Let’s say an employee earns an hourly rate of $10 and works 8 hours each day, Monday through Friday. The indemnity must correspond to 1∕20 of the wages earned over the four weeks preceding the holiday. If the employee works 5 days a week and earns weekly wages of $400, his indemnity is calculated as follows:
$400/wk × 4 weeks = $1,600
$1,600 ÷ 20 = $80 Indemnity
Virtual TimeClock can do all of the above for you except divide the gross wages by 20. So with minimal effort, it's easy to calculate indemnity pay for your Canadian statutory holidays.