New Stat Pay Calculation Ontario
I'm in charge of reviewing payroll before sending it out to our payroll company and I notice the calculation for News Year Day 2018 is much different than Christmas/Boxing Day calculation. We have a lot of part-time employees and it seems the new calculation benefits the employees.
Old calculation: Say you work 1 day a week at $100 per day with 4% vacation pay accrued each pay
so its gross wage over the last 4 weeks prior to that holiday + your vacation pay / 20
$416/20 = $20.80 in stat pay
Reg wage earned in last pay period (say Bi-weekly pay period) before that holiday / number of days worked
$200/2 = $100 in stat pay.
Is this correct? Did I miss something? Awesome for the employees, crappy for the employer I suppose if this is the new rule.