Redundancy: Weekly Gross Pay = Annual Salary / 52?

U

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Getting made redundant soon. My weekly gross pay is being calculated as 769.23 - 40000/52. In my payslip every month and on the calculation I received from HR my monthly gross pay is 3333.33. 3333.33/4 = 833.33
 
Re: Redundancy

Note that a calendar month is not exactly four weeks - except February in a non leap year! Dividing annual gross by 52 would seem to be the more accurate way to determine weekly gross.
 
Re: Redundancy

Thanks for the quick reply clubman. So is this how all companys would calculate gross weekly pay for redundancy payments.
 
Re: Redundancy

I would assume so. After all, in general, annual gross divided by 52 is your weekly wage. For what it's worth the DETE have a redundancy calculator here which might help you double check your figures. There are also some useful links in the Careers and Employment Issues key topics list thay might be of assistance to you.
 
Re: Redundancy

Hi Unregestered,

If you are on an annual salary most companies will divide your annual gross salary by 52 to get the weeky figure.

However some companies might divide by 52.18 (this takes into account some years which may have 53 weeks. See here for a discussion of the 52 Vs 53 year problem.
http://www.askaboutmoney.com/showthread.php?t=1041&highlight=52.18
http://www.askaboutmoney.com/showthread.php?t=948&highlight=52.18
http://www.askaboutmoney.com/showthread.php?t=1234&highlight=52.18

In any case simply dividing your monthly salary by 4 is wrong since as clubman says there are more 4 (or more) weeks in any month.

ajapale

ajapale
 
if you are hung up over it, you can more or less convert monthly to weekly by dividing by 4.33. This is the number of weeks in a month(52/12).

This becomes more inaccurate of course if a company correctly dividesd by 82.18 as opposed to 52.
 
Youre not doing to bad - statutory is limited to 600 per week - if you are just getting statutory these calulations are not going to matter
 
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