Holiday Pay is something that all employers in Canada need to be aware of. Each province and territory in Canada handles holiday pay a little differently, the good news is that Wave has taken the headache out of trying to figure out what you owe to your employees for holiday periods.
Simply put, employees could receive two types of holiday pay:
- "Statutory Holiday Pay" - This is the pay that an employee is entitled to for being employed during a holiday (whether they work on the holiday or not)
- "Worked Holiday Pay " - Sometimes called 'Holiday Premium Pay', This is the pay at an increased hourly rate, that an employee earns for working during a holiday
Given those two types of holiday pay, you'll also need to know if an employee is ELIGIBLE or not for a holiday pay in order to determine if they should earn Holiday Pay.
The good news, is that you just need to let Wave know if the employee worked on the holiday or not. We handle the rest; including the eligibility requirements for each employee.
Below we've included a few Frequently Asked Questions:
How is the Holiday Pay calculated?
Statutory Holiday pay, the pay that an employee is entitled to for being employed during a holiday (whether they work on the holiday or not), can take a few different things into consideration, depending on the province where your business is located.
Things like, pay this employee earned in previous periods and how long they've been employed come into play here.
For worked holiday, this too differs from province to province. The rate at which this is paid out depends on business location.
What days count as Holidays?
This depends on the province where your business is located. Some stat holidays are unique to only one province, where others are observed across Canada.