In some countries, two extra payments are charged to supplement the salary. As we have mentioned, the premium extra pay is made in summer or when the person turns one year in the job (it depends on the country), the other pay is delivered at Christmas, and this is more common in almost all of our countries.
The extra pay is calculated in different ways depending on the country , taking into account the monthly gross salary, the length of time in the company and the deductions that the State makes from the salary of each worker and any other amount that the person must pay.
One way to calculate the extra pay is:
- Amount to receive in the Christmas pay: 1,000 euros * (5 months / 12 months) = 416.66 euros.
- Amount to receive in the summer: 1,000 euros * (11 months / 12 months) = 916.66 euros.
The name does not denote what these payments actually mean. It is not about money given away or an additional payment by companies, it is money that belongs to the worker and that only “accumulates” to be delivered or deposited on those days of the year.