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Traditionally, year-end involves making numerous calculations.These include the year-end bonus and various holiday pay calculations, such as the December settlement.
What exactly does this famous 'December settlement' entail?
The holiday entitlement of a non-manual worker is based on the work performed and/or absences treated as work (such as annual leave, public holidays and maternity leave...) during the holiday qualifying year. This holiday entitlement must always be limited to the employment regime in place at the time of taking leave.
Consequently, a non-manual worker who has reduced working time in the current and/or past year, may not be able to take their full holiday entitlement accrued. In addition, this non-manual worker may possibly not receive their full double holiday pay.
The December statement is used to check whether the person concerned has received sufficient holiday pay based on their work performed and periods treated as time worked during the holiday qualifying year. This involves calculating how much single and double holiday pay the person concerned should still receive.
During the full calendar year of 2023, Simon has worked full-time (5 days/week) earning a monthly salary of EUR 3,500.
In 2024:
In May 2024, he took 3 weeks' annual leave. Simon received double holiday pay equivalent to EUR 2,975 (EUR 3,500 x 85%). He also received EUR 245 of supplementary double holiday pay (EUR 3,500 x 7%). He received single holiday pay of EUR 2,282.61.
In July 2024, he took an extra week of annual leave. For this, he received single holiday pay of EUR 380.43.
The December settlement is done in December 2024.
The gross annual salary for 2023 (excl. year-end bonus) is equivalent to EUR 42,000.
(a) The single holiday pay to be paid based on the work performed and/or activities treated as work in 2023: EUR 42,000 x 7.67% = EUR 3,221.40.
(b) Single holiday pay already received in 2024:
In 2024, the non-manual worker already received EUR 2,663.04 single holiday pay.
In December 2024, the employer must still pay EUR 558.36 single holiday pay.
(a) The double holiday pay to be paid based on the work performed and/or activities treated as work in 2023: EUR 42,000 x 6.80% = EUR 2,856.
(b) Double holiday pay already received in 2024 = EUR 2,975
In December 2024, the employer still has to pay - EUR 119 double holiday pay (to be added to the supplementary double holiday pay below).
a) The supplementary double holiday pay to be paid based on the work performed and/or activities treated as work in 2023: EUR 42,000 x 0.87% = EUR 365.40.
b) Supplementary double holiday pay already received in 2024 = EUR 245
In December 2024, the employer must still pay EUR 120.40 supplementary double holiday pay. In total, the employer must pay double and supplementary double holiday pay amounting to EUR 1.4 (EUR 120.40 - EUR 119).
Attention: in this example, a December settlement will also have to be made in December 2025.
We will of course take care of the December settlement for your affected non-manual workers.
For some non-manual workers, other settlements of holiday pay also take place in the month of December, i.e. :
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