Calculate accurate average wage according to Labor Standards Act for determining severance pay, unemployment benefits, and workers compensation.
Average wage under Labor Standards Act is the basis for severance pay, unemployment benefits, and workers compensation. It is calculated by dividing total wages for 3 months prior to the calculation date by total days in that period.
A: Used for calculating severance pay, unemployment benefits, workers compensation, annual leave allowance, etc.
A: Regular bonuses are included, but bonuses paid every period exceeding 3 months are excluded.
A: Cash meal and transport allowances are included, but payments in kind are excluded.
A: Unpaid leave periods have zero wages but are included in total days, lowering average wage.
A: If average wage is lower than minimum wage, minimum wage is applied as average wage.
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