In Finland, holiday pay is calculated based on your earnings during the previous year. You are entitled to 25 days of paid holiday per year, and the amount you receive for each day is calculated as a percentage of your average daily earnings.
Here's a breakdown:
- Holiday pay percentage: The percentage of your average daily earnings you receive as holiday pay varies depending on how long you have worked for your employer. For example, if you have worked for your employer for at least one year, you are entitled to 100% of your average daily earnings as holiday pay.
- Calculation: To calculate your holiday pay, your employer will divide your total earnings from the previous year by the number of working days in that year. This will give you your average daily earnings. Then, they will multiply your average daily earnings by the percentage of holiday pay you are entitled to.
For example:
- If your total earnings for the previous year were €30,000 and you worked 250 days, your average daily earnings would be €120 (€30,000 / 250 days).
- If you are entitled to 100% holiday pay, you would receive €120 per day of holiday.
Important notes:
- You accrue holiday pay throughout the year, and you can take your holiday whenever you like.
- You can also choose to save your holiday pay and take it all at once, or you can take it in smaller chunks.
- If you leave your job before you have taken all of your holiday pay, you will be paid for any unused days.
