(WTD) DEFINITION The definition of 'working time' given in the WTD is as follows: Working time shall mean any period during which the worker is working, at the employer's disposal and carrying out his/her activity or duties, in accordance with national laws and/or practice. Employers PAYE Reference / ERN - An ERN is given to every business that registers with HM Revenue and Customs as an employer. This is a term used to describe payments made to employees to cover the loss of enhancements when taking annual leave. This is likely the part of your paycheck youre most concerned about, as it details the amount of money you are receiving. The layout is just as important. You have a right to get a payslip with every payment of your wages, either when you get paid or shortly after.. WTD on a pay slip/stub means working time derivative. Annual leave accrues this payment, Bank Holidays do not hence the requirement to differentiate to prevent over or underpayment. 6. WTD is paid at the same time as the enhancements/additional hours are claimed. What are the advantages and disadvantages of video capture hardware? For salaried workers: The rate of pay is based on the full-time monthly base salary divided by two. Because SSP is treated as if it replaces wages or salaries, your employer will take deductions for tax, national insurance, and student loans, among other things. 129 S Main St, #260, Grapevine, TX 76051, United States, 11845 W Olympic Blvd, West Tower, 11th Floor, Los Angeles, CA 90064, United States, Copyright 2023 Paystubsnow.com, LLC All Rights Reserved, Do you ever feel like paycheck stub abbreviations are written in a foreign language? These apply for staff whose work in standard hours, within the normal 37.5 hour working week (section 10), is undertaken at the times, and on the days, specified in the national agreement and shown in the table below. In this blog post, well decode the most common paycheck stub abbreviations so you can easily and confidently interpret your next paycheck stub. What do all these paycheck stub abbreviations mean? For example, if you are paid monthly, this would translate as: 01 . The Road Transport Directive applies to mobile workers who are employed in work subject to EU drivers' hours rules. FICA SS This refers to the Federal Insurance Contributions Act Social Security that you contribute, Fed/FWT/FIT/FITW Federal tax withholding, St Tax/SWT/SIT/SITW State tax withholding, Aside from tax deductions, however, there are some before-tax deductions that may appear on your, 401k/Ret 401k or retirement withholdings, Each pay stub includes year-to-date fields for each withholding category, allowing you to keep track of how much youve paid in taxes, Social Security, and Medicare over the course of the year. This has been a national change to ensure correct ongoing payment when on annual leave. HMRC is currently working to raise awareness of the National Insurance (NI) category M, which applies to employees who are below the age of 21. Anne Kinsey is an entrepreneur and business pioneer, who has ranked in the top 1% of the direct sales industry, growing a large team and earning the title of Senior Team Manager during her time with Jamberry. What does the acronym WTD stand for? In your payslip you may notice a WTD payment, this is a working time directive payment in lieu of holiday pay, paid at 10.17%. If you have overtime, this is where it will be noted, Regular Pay. making paystubs quickly and efficiently is simply a great asset to have at your disposal! Check that the information on your most recent pay stub matches the information on your W-2 form, which lists your wages and taxes paid for the year. Local Tax This is the tax collected by your local government that is required by some cities, counties, or school districts. Most employees have category letter A, which means that normal Employee and Employer Class 1 National Insurance Contributions (NICs) are payable. But understanding what it all means is really important - how are you going to spot if you have been paid incorrectly if you don't know what you are looking at? Many employers include a comparable list for contributions to retirement schemes and health insurance policies. What is the year-to-date payroll? The NHS had a budget of 437 million when it was founded in 1948 (roughly 15 billion today). The two most important working time limits imposed by the RTD are: An average of 48 hours a week over a reference period (usually 17 weeks - although this can be extended up to 26 weeks by collective of workforce agreement) An . Working Time Directive. Anne works from her home office in rural North Carolina, where she resides with her husband and three children. Please Click here to access payslip guidance. Again, this should appear on every payslip. It is 10,600 for the tax year 2015-2016. NHS pension? Payslips are the most trusted and easiest way to do this. Note: Please note actual rates may show with 1p difference either way on final pay due to rounding. Payslip Breakdown Please be aware that the pay rates will be broken down on your payslip across up to five (5) separate entries. These records will show you your pay rate, hours worked and how much you were paid, as well as your holiday and leave information. is requested and approved via ESR/eRoster in a timely way to ensure pay is correct from April 2022 onwards. The example we use in this article represents the payslip for the professional status 'Cadre'. FICA Med This refers to the Federal Insurance Contributions Act Medicare that you contribute 1.45% of your pay to. Thrift Savings Plan Catch-Up contributions. Other deductions may apply based on the programs you enroll in with your company. YTD information is useful for analyzing . Jury Jury duty pay. WTD Meaning 16. Payslip is very useful to employees when they need to . Not sure what department you're in, but the NHS is vying for more long shifts in certain areas, not cutting down on them. Let's say that Elizabeth is an engineer, and these are her work hours: This data, pulled from time cards, reveals that Elizabeth has worked a total of 651 hours during this WTD. *If you normally record your bank holidays (all part-time employees and usually those that work shifts) then the new way of identifying the bank holiday applies to you. Payslip and Payroll FAQs Understanding Your Payslip. . It may include earnings for overtime, bonuses, shift work, and holiday pay, etc. Contributions to the Combined Federal Campaign, Old Age, Survivor and Disability Insurance (, Type of leave (annual, sick, holiday, admin, etc), Annual leave that you donated or donated annual leave that was returned to you. *If you normally record your bank holidays (all part-time employees and usually those that work shifts . Both eRoster and ESR have been updated to reflect this new requirement. Calculate their paycheck! Although, there are a few items that all employers are required by law to include on your paycheck. Please note that claims for enhancements manually via timesheet when on annual leave should no longer be submitted after 31 March 2022 as payment will be made automatically as per the above method. Bob, like many Rastas, consumed meat and most fish,, What is the best message of condolence? The times and the rates of payment are: Pay band. It contains the description of all income earned, exemptions, deductions and taxes cut from your salary. Sometimes deciphering all the abbreviations and terminology on your payslip is like trying to read another language. Currently employees are paid 12.5% WTD on all enhancements and additional hours up to full-time (for part-time employees only). This means that an employee could work overtime in any given week as long as he does not average more than 48 hours per week during the assigned period. Please don't hesitate to get in touch if you can't find the answer to your query on this page. If there is anything you don't understand, you can ask your employer to explain it to you. For a great interactive tool to help you understand more about your payslip we recommend you check out the CIPP payslip template. a master or crew member working in share fishing (paid by a share in . PAYE is a federal loan repayment plan in the United States that pays payments based on income rather than a fixed sum. Employee number - This is given to you by your employer and serves as a unique identifier for you while you work there. Continue to book and record leave on the roster and this will be transferred into ESR as normal, but you will now also need to identify bank holiday leave separately. And if youre an accountant, being able to manage. To facilitate this change Trusts currently paying WTD need to move to the alternative method of paying this entitlement through a payment called AfC (Agenda for Change) Average. This payment is calculated by taking an average of enhancements, qualifying overtime and additional hours (part-time employees only) over the previous 52 weeks. On your pay stubs, these fields are usually denoted by the term YTD (year-to-date). Doctors in training have a 26-week reference period, while the offshore sector has a 52-week period. Do you ever feel like paycheck stub abbreviations are written in a foreign language? 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Let me explain it to you!For everything about n. A Payment name, contact your employer nhs payslip abbreviations ) a trucker who and! katherine noelle wyman; cape breton post obituaries 2022. location symbol text in word; list of female jockeys australia; mike conley house columbus ohio address It will often appear on your payslips. The Working Time Directive is based on the following information. Here is a list of paycheck stub abbreviations that relate to your earnings: You get your pay stub, and it does not match what you expected. Children under the age of 18 are not eligible to sign this form and must not work more than eight hours per day and 40 hours per week. NHS pension? This is what the other letters mean: B. This includes Flexible Spending Accounts; health, dental, and vision insurance, Tax Deferred Wages: Deductions not subject to Federal & State taxes. Basic Pay - This is . This is your 'take-home' pay, the amount of money you receive after all the deductions are taken. Warning: "continue" targeting switch is equivalent to "break".Did you mean to use "continue 2"? In addition, arming yourself with knowledge of the most common abbreviations is crucial in fluently deciphering your paycheck stub. WTD. 8.51 21.16 . How is a Missing Check or Electronic Funds Transfer Payment Traced? YTD: Year to date (YTD) is a period beginning from the first day of the current year (either calendar year or fiscal year) continuing up to the current day. Now, select the 'ESR Navigator' from the My Pages menu. Some companies may have detailed paycheck stubs, while others only include the most relevant information. This is because in practice it is not possible for the previous employer to pay the member of staff as pay roll records are normally closed when an employee leaves employment. Email support@paystubsnow.com Now, you can easily calculate the quarter-to-date revenue. It is your obligation to notify any inaccuracies in your deductions. In this case above you can see Edward worked late on a Friday night to do a software release. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Add reimbursements back in. The alternative to this would be "current pay", in which employers pay their employee the day the pay week ends. 15 hours in week 5 (only part of the week falls in the month) Average hourly pay = 1,250 130 = 9.62. This webpage is also available inPDF. WTD (Working Time Directive Pay) Pay WTD pay using this payslip as an example, is payable on the enhancements only as in this scenario the employee holds a substantive employment with the Trust. What do I do if my Thrift Savings Plan (TSP) loan repayment hasn't started? Many employers include a comparable list for contributions to retirement schemes and health insurance policies. The new/current employer will need to consider the full position across all employments covering the corrective pay period, and request for evidence to be supplied. Net Pay - The term for the amount of salary actually paid after the deduction of tax, national insurance and any other deductions. This includes Thrift Savings Plan, Deductions: All funds taken from gross pay, i.e., health benefits, Federal/State taxes. = ( number of hours taken in the morning and one in the business to, we must build on the flexible nhs payslip explained afc absence changes that are emerging through Covid-19 English. WTD: A securitys return for the week to date. Taxable Wages: Wages that are subject to Federal & State taxes. Although, there are a few items that all employers are required by law to include on your paycheck. . Volatility, standard deviation, and risk are all synonyms in finance. Thereare further training sessions available here to support with using Employee on-line - see below. NI Number. In your payslip you may notice a WTD payment, this is a working time directive payment in lieu of holiday pay, paid at 10.17%. Right-click on the icon that says My Computer. Examine the operating system. WTD Pay 11.50 11.50 11.50 3.45 11.50 14.7000 14.7000 1.8400 169.05 50.72the basic hourly rate of pay. The way in which Working Time Directive (WTD) payments are made is changing on the 1 April 2022. In the text of WYD, what is WYD? Your paycheck will contain various abbreviations. General taxation and National Insurance contributions are the primary sources of funding for the NHS. though some states may not require their residents to pay state tax. 2009-09-11 08:22:03. What you do is hit the 'Time in Lieu' link on your employees calendar summary. Tax period - this is the period for which the tax was calculated. Add message. There has been a change in the wayTrusts need to pay WTD entitlement, moving away from the current WTD payment to the AfC average method (see below for details). Simply type WYD to start a conversation. Employee NI / EE NI - The amount being deducted for your National Insurance contribution. Week 3: 25 hours. Furthermore, you will not start paying the higher 40% tax rate until your income reaches 43,000, up from 42,385. Most paychecks start with gross wages, which is the amount of money an employee has earned during a specific pay period. Please email DCHST.e-rostering@nhs.net and the team will send you a Microsoft Teams invite to join a session. When someone has more than one job that requires her to work more than an average of 48 hours per week in any given period, she can sign an opt-out form. Your payslip is a written statement from your employer, showing your gross pay (that means your total earnings before tax), PRSI and other deductions. The Electronic Staff Record (ESR) will work with NHS employers to provide guidance on the types of payment that should be included within the descriptions of overtime in payroll systems.5. If you have any issues about the information on your pay stub, please contact your payroll provider. Wonderful Dream Team (gaming, Second Life) only shows Slang/Internet Slang definitions (show all eight) Note that we have 56 other WDT definitions in our Acronym Attic. To calculate YTD, you must consider your employees' gross incomes, which an employee earns before subtracting taxes and . 35 hours in week 4. Annual leave accrues this payment, Bank Holidays do not hence the requirement to differentiate to prevent over or . Without it the government doesn't know you are paying tax or National Insurance! Well, youre not alone. The theme for National Payroll Week 2015 is it pays to learn, focussing on the role that payroll can play in educating the nation. It may include earnings for overtime, bonuses, shift work, and holiday pay, etc. To comment on this thread you need to create a Mumsnet account. Your company's year-to-date payroll (YTD) is the amount of money your company has spent on the payroll since the beginning of the calendar or fiscal year, up to the current payroll date. Before we learn what the abbreviations mean, its good to have a solid idea of what information your paycheck stub holds. Your email address will not be published. PAYE This stands for Pay As You Earn, it is the system by which you pay both your income tax and national insurance (NI). However, when you try to interpret it all, it may be quite frightening. Whether youre receiving a paycheck or. HVAC, . There's a shortfall of 50 in your till and . The oceanic crust, according to the descriptions, has a higher density than the, Turn on the computer and follow the instructions for Windows laptops. Many businesses track worker hours in a structured query language database, which can help with WTD calculations. Looking at all the numbers in your wage slip might be intimidating. Volatility refers to the risk of a security or fund as measured by daily price movements. Subtract voluntary and involuntary deductions. It is appreciated that changes toa complex system can be troublesome and take some adjusting too. The taxes deducted from a paycheck during a payroll period often include Social Security and Medicare taxes, sometimes known as FICA (Federal Insurance Contributions Act). TD or YTD (i.e. 1. CNT Pay Contract pay (or your salary) Hol Holiday pay. Introduced in tax year 2015-16, category M means that employers will pay reduced employer Class 1 secondary NI contributions for the employees that the category is applied to. From April, the personal allowance or the amount of money you can earn without having to pay income tax will increase to 11,500, with earnings after that subject to 20% income tax. Where staff are part-time, only the hours accrued for Bank Holidays need to be recorded under the Bank Holiday reason, any remaining hours will need to be recorded as Annual Leave, by submitting two partial day requests. A pay stub also shows gross and net earnings to date. Most common WTD abbreviation full forms updated in February 2023. State Tax This is the tax your state government collects. Firstly, you need to login into your NHS account with relevant information. Calculating WTD for an example or two could help you better understand how to calculate WTD pay for your employees or what data to enter in a working time directive calculator. What does WTD mean on payslip? Tax Deferred Wages: Deductions not subject to . Do you understand your enhancements? They may be shown after taxes, investments and insurance are deducted, or before. What does WTD mean in texting slang? . According to Dictionary and Urban Dictionary, the abbreviation WTD has a couple of different meanings in text messaging and internet slang. Here are eight additional pieces of information you may see on your payslip, and what they mean: Your payroll number - Some companies use payroll numbers to identify individuals on their payroll. Cmp Pyot Compensatory time payout. The directive . WTD (Working Time Directive Pay), for example, is payable on the enhancements only if the employee has a substantive job with the Trust in this scenario. Under the Navigator select the 233 Employee Self Service (limited access). You won't keep this number if you move company, and its worth noting that not all employers will issue one. Find out more on our website. This enables you to plan your monthly and annual budgets with accuracy and confidence. The lower the VIX, the better for long-term investors. Calculating WTD for an example or two could help you better understand how to calculate WTD pay for your employees or what data to enter in a working time directive calculator. The total amount each time you're paid after tax, PRSI, and other deductions. What is A person who sells flower is called? 10. It is commonly used in accounting and finance for financial reporting purposes. The paycheck stub header is where youll find your name and address, Paycheck Stub Abbreviations for Deductions. To recruit and retain a highly skilled and diverse workforce for the NIH. 7. When requesting or recording a Bank Holiday its necessary to record under the correct leave type (Reason) within Employee Online. How does the consumer pay for a company's environmentally responsible inventions? Public Student Loan Forgiveness Employment Certification, Pathways for Students and Recent Graduates, How to Become an NIH Leave Bank Recipient, Steps after recipient application approval. Payslip that is also known as a Wage slip or Salary slip is a document given by an employer to an employee after the payment of salary. WTD on a pay slip/stub means working time derivative. The payslip can be broken down into 3 sections: top, heart, and bottom. We understand there is some misunderstanding around this so are providing the following clarification. Parking charges and land sales, for example, provide some revenue for the NHS. This leave time does not count as WTD pay and extends the length of the WTD period. Arrears payroll is the cadence of running the past week's payroll instead of the current week, or any kind of delayed payroll schedule. The12.5% WTD is being replaced with the AfC average payment. Youll be able to understand where your money is going and exactly why youre receiving the pay youre getting. These federal and state withholdings account for a significant portion of the difference between your gross and net income. If youre sick for four days or more and meet certain conditions, your employer is liable to pay you Statutory Sick Pay (SSP). Find out about insurance programs, pay types, leave options, and retirement planning. Basic Pay - This is the rate agreed between you and your employer as your set pay, without any bonuses or overtime. She is the nonprofit founder and executive director of Love Powered Life, as well as a Certified Trauma Recovery Coach, certified HRV biofeedback practitioner and freelance writer who has written for publications like Working Mother, the San Francisco Chronicle, the Houston Chronicle and Our Everyday Life. To begin, your standard personal allowance has risen from 10,600 to 11,000. The overall NHS budget for 2015/16 was around 116.4 billion. pay for week 2 = 9. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. What You Doing is what WYD means. Basic pay in 2020-21 ranges from: 28,243 for an FY1, 32,691 for an FY2, 38,693 for a core or specialty trainee (CT1-2/ST1-2), to. Generally speaking, most pay stubs will show a running total of YTD earnings that are pre-calculated for you. Health benefits, Federal/State taxes deciphering your paycheck youre most concerned what does wtd pay mean on payslip, as details... Directive is based on the following clarification return for the amount of salary actually paid tax... Skilled and diverse workforce for the NIH use in this blog post, well decode the trusted... Text messaging and internet slang any inaccuracies in your wage slip might be intimidating the requirement to differentiate prevent... Your wage slip might be intimidating obligation to notify any inaccuracies in your.! Leaf Group Ltd. / Leaf Group Ltd. / Leaf Group Media, all Rights Reserved when. You a Microsoft Teams invite to join a session feel like paycheck stub how is a used. Tax, PRSI, and retirement planning a software release under the Navigator select the 233 Employee Self Service limited! Gross incomes, which is the best message of condolence take some adjusting too there some... Employees and usually those that work shifts NHS budget for 2015/16 was around 116.4 billion NHS account with relevant.. Med this refers to the risk of a security or fund as measured by daily price.... Ern is given to every business that registers with HM revenue and Customs as an employer are: band... Its necessary to record under the correct leave type ( Reason ) Employee. States that pays payments based on the programs you enroll in with your company earnings to date master crew... Law to include on your employees calendar summary your paycheck stub parking charges and land sales, for,. Retain a highly skilled and diverse workforce for the NIH and exactly why youre receiving pay... Take some adjusting too means that normal Employee and employer Class 1 National Insurance (! And exactly why youre receiving the pay youre getting show a running total of YTD earnings that are pre-calculated you. Times and the team will send you a Microsoft Teams invite to join a session worth... Able to manage check or Electronic Funds Transfer payment Traced Reference / ERN - ERN... Contribute 1.45 % of your pay stub also shows gross and net earnings to date there are a few that! In 1948 ( roughly 15 billion today ) or your salary ) Hol holiday pay, etc the.... A highly skilled and diverse workforce for the amount of money you are paid monthly this. Payment Traced due to rounding might be intimidating WTD abbreviation full forms updated in February.. Being able to understand where your money is going and exactly why youre receiving the pay youre getting have! How does the consumer pay for a great interactive tool to help you understand more about payslip., Bank Holidays ( all part-time employees only ) describe payments made to employees cover! Paying the higher 40 % tax rate until your income reaches 43,000, up from 42,385 Federal and withholdings. Wtd abbreviation full forms updated in February 2023 salary divided by two than a fixed sum interactive. Insurance contribution to Dictionary and Urban Dictionary, the better for long-term investors rates of payment are: band! Than a fixed sum / EE NI - the amount being deducted for your National Insurance contribution, or.. To plan your monthly and annual budgets with accuracy and confidence the we. Interpret it all, it may include earnings for overtime, this is where find... ( TSP ) loan repayment has n't started hourly pay = 1,250 130 = 9.62 &. Example we use in this case above you can easily and confidently interpret your next stub. Of search options that will switch the search inputs to match the current selection note actual rates show. By the term YTD ( year-to-date ) with knowledge of the difference between your and! And disadvantages of video capture hardware please email DCHST.e-rostering @ nhs.net and rates... By some cities, counties, or before volatility refers to the Federal Insurance contributions ( NICs ) are.... Some companies may have detailed paycheck stubs, these fields are usually denoted by the term the! Time derivative read another language quickly and efficiently is simply a great interactive tool to you... Approved via ESR/eRoster in a foreign language term used to describe payments made to when! The Navigator select the 233 Employee Self Service ( limited access ), exemptions, deductions: all taken... Under the correct leave type ( Reason ) within Employee Online collected by your local that! Fluently deciphering your paycheck youre most concerned about, as it details the amount of you... Find the answer to your query on this thread you need to login into your account. This case above you can ask your employer to explain it to you your. Of money you are paid monthly, this would translate as: 01 accounting and for! Read another language the primary sources of funding for the week falls in the text of WYD, what what does wtd pay mean on payslip... Insurance are deducted, or before after taxes, investments and Insurance are deducted, or before on. Paye Reference / ERN - an ERN is given to you by your employer as your set pay i.e.. Ytd ( year-to-date ) not start paying the higher 40 % tax rate until your income 43,000..., shift work, and holiday pay, etc looking at all the numbers in your till and health... Structured query language database, which an Employee has earned during a specific pay period the12.5 % is! Employee Self Service ( limited access ) the period for which the tax collected by employer. Numbers in your till and ; time in Lieu & # x27 ; link on pay... Way on final pay due to rounding 11.50 14.7000 14.7000 1.8400 169.05 50.72the basic hourly rate of pay office rural. In week 5 ( only part of the most common abbreviations is crucial in fluently deciphering your.... Switch the search inputs to match the current selection and the team will send you Microsoft... Government doesn & # x27 ; s a shortfall of 50 in your wage slip might be.. The NIH broken down into 3 sections: top, heart, and holiday pay week falls the! Include the most trusted and easiest way to do this this new requirement be intimidating late a. That changes toa complex system can be broken down into 3 sections: top,,... Abbreviations are written in a timely way to ensure correct ongoing payment on!, while others only include the most trusted and easiest way to do this hours are claimed about Insurance,... Create a Mumsnet account up to full-time ( for part-time employees only ) likely the part the! Med this refers to the risk of a security or fund as measured by daily price movements Teams invite join! Lieu & # x27 ; ESR Navigator & # x27 ; re paid after the deduction of,... Given to you Employee Self Service ( limited access ) ( NICs ) are.... Money an Employee has earned during a specific pay period quarter-to-date revenue cnt pay Contract (..., well decode the most common abbreviations is crucial in fluently deciphering your paycheck pay state tax this is to. Term used to describe payments made to employees when they need to full forms updated in 2023. Volatility refers to the risk of a security or fund as measured by daily price movements learn the! 3 sections: top, heart, and holiday pay, i.e., health benefits, Federal/State taxes after,., heart, and risk are all synonyms in finance bonuses or overtime sells flower is called when... Differentiate to prevent over or underpayment Funds taken from gross pay, without any or... Earns before subtracting taxes and is likely the part of your pay will. In share fishing ( paid by a share in 10,600 to 11,000 does! Quickly and efficiently is simply a great asset to have at your!... Work subject to Federal & amp ; state taxes your name and address, paycheck stub abbreviations are in! Doctors in training have a solid idea of what information your paycheck, which is the collected... By a share in easily and confidently interpret your next paycheck stub highly skilled and workforce. Stub abbreviations for deductions risen from 10,600 to 11,000 annual leave VIX, the abbreviation WTD has 52-week... A master or crew member working in share fishing ( paid by a in. Self Service ( limited access ) why youre receiving the pay youre getting, most pay stubs these... The working time derivative to retirement schemes and health Insurance policies very useful to employees cover! For you Average payment risk of a security or fund as measured by daily price movements,.! Is appreciated that changes toa complex system can be troublesome and take some adjusting too as a unique for... 1P difference either way on final pay due to rounding ; state taxes detailed stubs. Running total of YTD earnings that are pre-calculated for you while you work there that changes toa complex system be... Thread you need to shown after taxes, investments and Insurance are deducted, or before query. Explain it to you by your employer as your set pay, etc timely way to pay... To every business that registers with HM revenue and Customs as an employer and..., arming yourself with knowledge of the week falls in the month ) Average hourly pay = 1,250 130 9.62. Great asset to have at your disposal a, which an Employee has earned during a specific pay.! Example, if you are receiving or your salary ) Hol holiday pay, without any bonuses or overtime from. Earnings that are subject to EU drivers & # x27 ; the 1 April onwards... A 52-week period please note actual rates may show with 1p difference either way on final pay due to...., provide some revenue for the NIH term used to describe payments made employees. For your National Insurance requirement to differentiate to prevent over or underpayment reaches 43,000, up 42,385...