calculating salary, help please

luckycat99

My fixed term contract has recently ended, just 3 days shy of 2 years of working for employer so unfortunately I don't think I qualify for redundancy pay as you need to have worked somewhere for 2 years to get this (mildly peeved for the sake of a few days).

I have a new job to go to but not until the start of September. So I will effectively be unemployed for about a month. So I've been trying to figure out what my final salary will be when I receive it on 27th of this month, so that I can budget for the next couple of months.

My contract ended on 4th August and I had 10 days holiday pay owing (sp?). My last pay was on 27th. What I don't know is - is my monthly salary based on say 31 days i.e. monthly pay divided by 31 days times X days for final salary or is it based on another figure. Also I get paid in arrears so when I got paid on 27th would I have been paid from 1st to 31st of July or from 27th June to 27th July.

I am probably making this sound more complicated than it needs to be but I need to have an accurate picture of what I can expect to get as it makes a huge difference to my budget.

Hope someone can help - can't get to sleep from worrying about this.

Thanks

LittleVoice

You need to look at the written particulars of your contract to know whether you are truly paid precisely a month in arrears (ie to 26/27th of the month) or whether it was based on a calendar month. We don't know what it says.

To find out how they are likely to treat apportionment of the final pay, look at how your first payment was calculated and apply the same rules.

Debt_Free_Chick

luckycat99 wrote: »

My contract ended on 4th August and I had 10 days holiday pay owing (sp?). My last pay was on 27th. What I don't know is - is my monthly salary based on say 31 days i.e. monthly pay divided by 31 days times X days for final salary or is it based on another figure. Also I get paid in arrears so when I got paid on 27th would I have been paid from 1st to 31st of July or from 27th June to 27th July.

One day's pay is usually 1/261 of the annual rate of pay - assuming your normal working week is Monday-Friday.

I would imagine that your normal monthly pay is for 1/12 of your annual salary, meaning you were paid for the whole of July and you are now owed the days worked in August plus ten days unpaid holiday.