Vakantiegeld
Holiday allowance (vakantiegeld)
An annual benefit of at least 8% of the gross salary.
Holiday allowance (also known as holiday pay or vacation allowance) is an additional benefit that every employee in the Netherlands receives. It amounts to at least 8% of the gross annual salary and is usually paid out in May or June. The right to holiday allowance is laid down in the Minimum Wage and Minimum Holiday Allowance Act. Some collective labour agreements (CAOs) offer a higher percentage.
“Holiday pay is usually paid in May.”
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